Dynamite News
Rupee rides on GDP numbers, up 6 paise in early trade
The rupee edged higher by 6 paise to 66.76 against the dollar in opening session.
Mumbai: The rupee edged higher by 6 paise to 66.76 against the dollar in early trade today after exporters and banks stepped up selling of the US currency.
The strength of the dollar overseas on growing expectations of a Federal Reserve rate hike this month, limited the gains.
Fed policymakers have been hinting at a rate hike at its meeting scheduled on March 14-15, irrespective of US President Donald Trump's budget plans. This has made the US markets soar to record highs of late.
Yesterday, the rupee had lost 13 paise to close at 66.82 against the dollar.
Meanwhile, the benchmark BSE Sensex regained the 29,000-mark by surging 148.46 points, or 0.51 per cent, to 29,132.95 in early trade today. (PTI)