On Wednesday, the currency closed 24 paise higher to 71.11/$ compared to its previous close of 71.34/$.
The Indian rupee appreciated 11 paise against the dollar to trade at 71/$ in Thursday’s late morning trade. The domestic unit opened marginally higher and maintained its upward movement at 71.06/$.
On Wednesday, the currency closed 24 paise higher to 71.11/$ compared to its previous close of 71.34/$.
The appreciation in the domestic unit could be attributed to easing crude oil prices in the global market and a weak dollar against its major peers. This is after the Federal Reserve in its minutes of the recent policy meeting raised concerns regarding the economic health of the US. The central bank decided to halt their steady campaign to raise interest rates.
Meanwhile, equity benchmark indices were trading on a flat note on Thursday with the Sensex gaining 21 points to 35,777 levels. The Nifty also rose 4 points to trade at 10,739 levels.
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On Wednesday, the currency closed 24 paise higher to 71.11/$ compared to its previous close of 71.34/$.
The appreciation in the domestic unit could be attributed to easing crude oil prices in the global market and a weak dollar against its major peers. This is after the Federal Reserve in its minutes of the recent policy meeting raised concerns regarding the economic health of the US. The central bank decided to halt their steady campaign to raise interest rates.
Meanwhile, equity benchmark indices were trading on a flat note on Thursday with the Sensex gaining 21 points to 35,777 levels. The Nifty also rose 4 points to trade at 10,739 levels.
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