Rupee gains 6 paise against dollar in opening trade

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MUMBAI: The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade on Tuesday.


The rupee also maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks.

The rupee opened lower at 71.21 but recovered to trade 6 paise higher at 71.12 against the dollar.

“Besides, optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January, and the dollar weakening against some other currencies overseas, also supported the rupee”, forex dealers said.

“A positive opening in the domestic equity market gave the uptrend some momentum”, they added.

On Monday, the rupee had ended higher by 13 paise to close at 71.18 against the dollar on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies.

Meanwhile, the BSE benchmark Sensex rose 22.20 points, or 0.06 per cent, to 36,417.23 in the early session on Tuesday.

 

With inputs from PTI

 

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