LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » India News

Rupee gains 14 paise to end at 65.14 ahead of macro data

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Updated: Wed, Oct 11, 2017
06:59 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

The rupee continued its recovery trend for a third day today ending higher by 14 paise at 65.14 against the US currency after steady dollar unwinding by exporters and corporates.

Currency traders seemingly reduced their long dollar positions ahead of much-awaited release of US Fed meeting minutes later in the day, a forex dealer said. There have been wide speculations about a US interest rate hike in December.

On the domestic front, release of IIP for August and inflation for September is slated for tomorrow.

The home currency has now appreciated by 24 paise in the recent leg of rally despite heavy capital outflows.

A weak dollar in overseas markets also bolstered the domestic currency, a forex dealer said. The dollar extended its decline on the back of lower Treasury yields.

The rupee opened higher at 65.22 compared to last close of 65.28 at the Interbank Foreign Exchange (Forex) market largely driven by adequate dollar supply.

It strengthened further to hit an intra-day high of 65.1250 before finishing the day at 65.14, showing a smart gain of 14 paise, or 0.21 per cent.

It had briefly touched a low of 65.3150 during the trade.

The RBI, meanwhile, fixed the reference rate for the dollar at 65.2691 and for the euro at 77.1677.

The dollar index, which measures the greenback's value against a basket of six major currencies, was trading sharply lower at 92.94 in early trade.

In cross-currency trades, the rupee gained further ground against the Pound sterling to settle at 85.91 from 86.07 per pound and also recovered against the Japanese yen to finish at 58.02 per 100 yens from 58.05 earlier.

The local unit, however, remained under pressure against the Euro to settle at 77.03 from 76.89 yesterday. The euro was trading strong in global markets after the political risk of the Catalonian independence settled slightly.

In forward market today, premium for dollar weakened further due to sustained receiving from exporters.

The benchmark six-month premium payable in March moved down to 127.50-129.50 paise from 129-131 paise and the far forward September 2018 contract also slipped to 265.50-267.50 paise from 267-269 paise previously.

Crude prices edged higher on expectations that markets are gradually tightening after years of oversupply. US West Texas Intermediate (WTI) crude futures were trading up 0.3 per cent at USD 51.06 per barrel.

Brent crude futures gained 0.1 per cent at USD 56.69.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

SBI, ICICI Bank and Yes Bank share price outlook I What investors can do - EXPLAINED

Adani Green, Metal Stocks, NBFC Stocks to FMCG stocks - here are top Buzzing Stocks today

Stocks in Your Budget 2021 – JTEKT India a TOP pick says Market Guru; Explains why it is a candidate for your portfolio

Market Guru Anil Singhvi analyses current bull trend, reveals Nifty, Bank Nifty levels for traders

GST: Never claim fake Input Tax Credit (ITC) in greed of money, else this will happen - Modi government is watching you!

LIVE: Maharashtra Gram Panchayat Elections Results: DECLARED for 1.25 lakh candidates! Check latest news, updates here

Premier League: Man United stay atop after goalless draw against Liverpool

Piramal to takeover DHFL loans? Yes Bank, Canara Bank, Union Bank of India may benefit | Jefferies Highlights

OPPO Reno 5 Pro 5G smartphone launched in India | Check price, camera, specs, features, offers and other details

Income Tax Refund Status: Yet to get credit after seven days of ITR filing? Check for these common mistakes

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved