Rupee strengthens: Forex rises 35 paise to 71.11 in opposition to greenback on falling crude costs
Merchants mentioned greenback’s weak spot in opposition to some currencies abroad and elevated promoting of the dollar by exporters and banks additionally supported the rupee.
They mentioned contemporary overseas fund inflows and a steep fall of practically 7 p.c in world crude costs to one-year low on Tuesday buoyed rupee sentiments.
On the interbank foreign exchange market, the rupee opened greater at 71.12 and rose additional to cite at 71.11, exhibiting an increase of 35 paise over its earlier shut of 71.46 in opposition to the greenback on Tuesday.
The rupee had gained 21 paise to finish at 71.46 in opposition to the US greenback Tuesday.
Within the final six buying and selling periods, the home unit has gained 143 paise.
Foreign exchange market remained shut Wednesday on account of Eid-e-Milad.
In the meantime, the benchmark BSE Sensex was up by 82.53 factors, or 0.23 per cent, to 35,282.33 in opening commerce.