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Rupee continues good run, gains another 7 paise against dollar.


Date: 05-12-2016
Subject: Rupee continues good run, gains another 7 paise against dollar

MUMBAI: The rupee firmed up 7 paise to 68.13 against the dollar in early trade on Monday, rising for a fifth straight day on increased selling of the US currency by exporters and banks.

A higher opening in the domestic equity market gave the uptrend some momentum, but the euro sinking to a 20-month low against the American currency after Italy Prime Minister Matteo Renzi resigned following a heavy referendum defeat, capped the gains.

On Friday, the rupee had gained 14 paise to close at 68.20 — the highest level in more than a week — on growing expectations that the Reserve Bank will lower key rates in its policy review scheduled for December 7.

Source: timesofindia.indiatimes.com


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