Budget 2020

Rupee rises 3 paise against U.S. dollar in early trade


In the previous session, the rupee had settled at 72.37 against the American currency.

The rupee advanced by 3 paise to 72.34 against the U.S. dollar in opening trade on March 23, as easing crude oil prices and buying trend in equity markets lifted sentiment.

The rupee’s gains were, however, restricted as investors turned a bit cautious due to rising U.S. dollar amid foreign fund outflows.

At the interbank forex market, the local unit opened flat at 72.37 against the U.S. dollar, then gained some strength to quote at 72.34, a rise of 3 paise over its last close.

In the previous session, the rupee had settled at 72.37 against the American currency.

Global oil benchmark Brent crude futures fell 0.94% to $64.01 per barrel.

On the domestic equity market front, the BSE Sensex was trading 90.66 points or 0.18% higher at 49,861.95 in early deals, while the broader NSE Nifty rose 32.10 points or 0.22% at 14,768.50.

Foreign institutional investors were net sellers in the capital market on March 22 as they sold shares worth ₹786.98 crore, as per exchange data.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.16% to 91.88.



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