Rupee strengthens against US dollar, recovers 23 paise


ANIMESH SRIVASTAVA 10/10/2018 11:42 AM
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New Delhi, Oct 10: The rupee rose to 74.16 against the USD recovering 23 paise, the increased selling of exporters has led to weakening the American currency.


RBI’s decision to inject liquidity worth Rs. 12,000 crore in the system by purchasing the government bonds to meet the demand of fund in the festive season has also made a significant impact. The domestic equity market also had a high opening, the benchmark BSE Sensex rose 110.20 points or 0.31 percent, to 34,409.67 in opening trade.


The rupee touched an all-time low of Rs. 74.16 on Tuesday due to high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

 

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