On Tuesday, the domestic unit had appreciated 21 paise to close at 69.70/$.
The Indian rupee extended its gain for the second consecutive trading session on Wednesday and rose ~20 paise to trade at day’s high level of `69.49 against the dollar. The currency has opened 13 paise higher at `69.57/$.
At 10:35, AM, IST, the currency was trading 5 paise higher at 69.64/$. On Tuesday, the domestic unit had appreciated 21 paise to close at 69.70/$.
The appreciation in the currency could be attributed to the rally in the domestic equity market. Equity benchmark indices opened higher for the second consecutive session on Wednesday on the back of positive trades in global markets over hopes of dovish stance from the US Federal Reserve.
The global equity markets turned positive after European Central Bank's President Mario Draghi said that the ECB will ease policy again if inflation fails to accelerate, also US President Donald Trump would meet China's president to talk about trade boost today.
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At 10:35, AM, IST, the currency was trading 5 paise higher at 69.64/$. On Tuesday, the domestic unit had appreciated 21 paise to close at 69.70/$.
The appreciation in the currency could be attributed to the rally in the domestic equity market. Equity benchmark indices opened higher for the second consecutive session on Wednesday on the back of positive trades in global markets over hopes of dovish stance from the US Federal Reserve.
The global equity markets turned positive after European Central Bank's President Mario Draghi said that the ECB will ease policy again if inflation fails to accelerate, also US President Donald Trump would meet China's president to talk about trade boost today.
Get more details here:
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