Mumbai – In late morning deals on Friday, rupee was strengthened by 11 paise against US dollar, sustained by an industry movement in equity market and flaws in dollar abroad.
The local currency resumed industry at 41.09/11 from sudden close at 41.09/11 and afterwards flowed to 41.0450/0550 per dollar in late morning deals in the active trade at the interbank foreign exchange market.
The benchmark Sensex flowed further by about 67.40 points during morning trade to touch 15,189.41, increasing more than 1,000 points from past August 24.
The weak dollar abroad market also assists the rupee opinion.
Due to decrease in the demand of dollar rupee gained. Oil refiners were steady buyers in the greenback in the last few days to meet their month-end expenses.
The main factors operating in favour of rupee according to Forex dealers are equity markets and weak dollar abroad.
Dollar’s weakness in international markets was recognized to indications of a possible interest rate cut.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment