Rupee rises 27 paise to 70.80 against USD in early trade

DN Bureau

The rupee appreciated by 27 paise to 70.80 against the US dollar in early trade on Friday as optimism about US-China trade talks and gains in domestic equity market enthused investors.

Rupee
Rupee

Mumbai: The rupee appreciated by 27 paise to 70.80 against the US dollar in early trade on Friday as optimism about US-China trade talks and gains in domestic equity market enthused investors.

Also Read: Rupee slips 20 paise to 71.22 vs USD in early trade 

Rupee had settled at 71.07 against the US dollar on Thursday. The domestic unit however could not hold on to the gains and was trading at 70.92 against the dollar at 1012 hrs.

Domestic bourses opened on a positive note on Friday with benchmark indices Sensex trading 425.29 points higher at 38,305.69 and Nifty up 110.75 points at 11,345.30. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 98.66.

Also Read: Swiss bank accounts of Indians shared by Switzerland under AEOI mechanism

Market participants, however, said sustained foreign fund outflows and rising crude prices weighed on local currency.(PTI)

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