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Rupee strengthens 49 paise against US dollar

Rupee strengthens 49 paise against US dollar

Fri Oct 12 2018


Continuing its recovery, the rupee strengthened 49 paise to 73.61 against the US dollar in morning trade in the forex market on Friday after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback’s weakness against some currencies overseas, helped the recovery in the domestic currency.


Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market. Forex dealers said a higher opening in the equity market also supported the rupee’s sentiment.


The local unit, after hitting a record low of 74.50 on Thursday, recovered 9 paise to end at 74.12 against the dollar. Meanwhile, the BSE benchmark Sensex rebounded 680 points, to 34,685 in morning trade.



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