Rupee gains 24 paise against Dollar in opening trade

01 June 2018, 09:47 AM
Rupee gained 24 paise to 67.17 against Dollar on continued selling of the US currency by banks and exporters
Rupee gained 24 paise to 67.17 against Dollar on continued selling of the US currency by banks and exporters

Continuing the uptrend for the third day on Friday, the Rupee gained 24 paise to 67.17 against the US Dollar on continued selling of the American currency by banks and exporters amid robust macroeconomic data.

The CSO data released on Thursday showed GDP in the January-March quarter of 2017-18 was at a seven-quarter high of 7.7 per cent, helping India retain the tag of world's fastest growing major economy.

Forex dealers said sustained selling of the US Dollar by exporters as well as banks and a higher opening in the domestic equity market strengthened the Rupee. However, the Dollar's strength against other currencies overseas capped the gains.

On Thursday, Rupee firmed up by 2 paise to end at 67.41 against the Dollar on stray selling of the US currency by banks and exporters.

Meanwhile, the benchmark BSE Sensex was up 55.60 points, or 0.15 per cent, at 35,377.98 in early trade.

(With inputs from agencies)

First Published: Friday, June 01, 2018 09:39 AM
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