Rupee surges 32 paise to 75.89 against U.S. dollar in early trade
The Hindu
Global oil benchmark Brent crude futures rose 1.75% to $99.74 per barrel
The rupee advanced 32 paise to 75.89 against the U.S. dollar in the opening trade on March 17, supported by positive domestic equities, broad dollar weakness and softening crude oil prices.
At the interbank foreign exchange, the rupee opened at 75.96 against the U.S. dollar and gained momentum to quote 75.89, a gain of 32 paise from the previous close.
On March 16, the rupee spurted by 41 paise to close at a nearly two-week high of 76.21 against the American currency.
The Indian rupee opened higher tracking overnight weakness in the greenback and crude oil, Reliance Securities said in a research note.
"Risk assets rose, and the dollar declined despite the Federal Reserve signalling an aggressive monetary tightening cycle and could also lend support to the rupee," it added.
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