Rupee extends rally against greenback on ease of doing biz 01/11/2017


Rupee extends rally against greenback on ease of doing biz
01/11/2017 13:25
Click here for Hourly Trend Update

             Equity Cash/Futures/Options Segment 
 Free Intraday Tips : Join Our Whatsapp No : 9841986753
  Free Commodity Tips : Join our Whatsapp No : 9094047040
The Indian Rupee continued gaining momentum against the US dollar on Wednesday amid weak dollar demand by exporters and banks and strong rally in equity market after India jumped 30 spots to 100 in World Bank’s ease of doing business ranking for 2018.
According to forex dealers, dollar was under pressure ahead of Federal Reserve two-day policy meeting at which it is expected to leave rates unchanged. Most market participants expect the US central bank to resume hiking rates in December 2017.
At the Interbank Foreign Exchange Market, the local currency was up by 05 paise at 64.75 per dollar against a previous close of 64.97 per dollar at 13:25 hours. During the day’s trade so far, the rupee touched an intra-day high of 64.71 after making positive opening at 64.91.
Adding to it, firmness in the domestic equity market further boosted Rupee upward movement. Meanwhile, the BSE SENSEX was trading at 33625.03, up by 411.9 points or by 1.24 per cent, and the NSE Nifty was at 10441.4, up by 106.1 points or by 1.03 per cent.
Posted by