1. Indian rupee gains 8 paise to 67.13 against US dollar in early trade

Indian rupee gains 8 paise to 67.13 against US dollar in early trade

The Indian rupee appreciated by 8 paise to 67.13 against the US dollar in early trade today on fresh selling of the American currency by exporters and bankers on account of lower trade deficit in the last fiscal.

By: | Mumbai | Published: June 17, 2016 10:19 AM
indian rupee vs us dollar, indian rupee vs usd, dollar vs rupee, dollar vs rupee today, dollar vs rupee live, rupee vs dollar today, rupee vs dollar rate, inr vs usd today rate, inr vs usd current rate, inr vs dollar rate today, indian rupee vs dollar rate today, indian rupee us dollar exchange rate today, indian rupee dollar rate today The Indian rupee appreciated by 8 paise to 67.13 against the US dollar in early trade today on fresh selling of the American currency by exporters and bankers on account of lower trade deficit in the last fiscal. (Reuters)

The rupee appreciated by 8 paise to 67.13 against the US dollar in early trade today on fresh selling of the American currency by exporters and bankers on account of lower trade deficit in the last fiscal.

Forex dealers said besides selling of the American currency and positive economic data, a higher opening in the domestic equity market and weakness of the dollar against some other currencies overseas supported the rupee.

India’s current account deficit (CAD) narrowed sharply to US dollar 0.3 billion or 0.1 per cent of GDP in the fourth quarter of 2015-16 from $7.1 billion or 1.3 per cent in third quarter on account of lower trade gap.

For the full fiscal 2015-16, CAD stood at US dollar 22.1 billion or 1.1 per cent of GDP as against US dollar 26.8 or 1.3 per cent of GDP in 2014-15 on the back of contraction in the trade deficit.

The country’s trade deficit for the entire fiscal narrowed to US dollar 130.1 billion from US dollar 144.9 billion in 2014-15.

Yesterday, the rupee had lost 6 paise to 67.21 against the US dollar on fag-end demand for the American unit from banks and importers amid fall in domestic stocks.

Meanwhile, the benchmark BSE Sensex rebounded 188.80 points or 0.71 per cent to 26,714.26 in early trade today.

  1. No Comments.

Go to Top