shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > News > India News > Article > Rupee appreciates by 7 paise against USD

Rupee appreciates by 7 paise against USD

Updated on: 24 April,2009 10:16 AM IST  | 
PTI |

Extending its gains for the third straight day, the Indian rupee today appreciated by seven paise to 49.85 against the US currency in early trade owing to increased capital inflows by foreign funds on expectations that the domestic bourses may open in the positive zone, tracking other Asian equity markets.

Rupee appreciates by 7 paise against USD

Extending its gains for the third straight day, the Indian rupee today appreciated by seven paise to 49.85 against the US currency in early trade owing to increased capital inflows by foreign funds on expectations that the domestic bourses may open in the positive zone, tracking other Asian equity markets.


Dollar's weakness against other Asian currencies also supported the rupee, dealers said. At the Interbank Foreign Exchange (Forex) market, the domestic unit was quoted higher at 49.85 a dollar, up by seven paise over the previous close of 49.92/94.


Forex dealers said firming Asian stock markets led to capital inflows by foreign funds, supporting the rupee movement. Yesterday, the rupee gained the most in almost one month by rising 42 paise to 49.92/94 against the USD.


Meanwhile, the BSE benchmark Sensex yesterday closed 2.94 per cent higher, while Hong Kong's Hang Seng index moved up by 0.14 per cent in early trade today.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!


Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK