Skip to main content

Rupee starts New Year on positive note, rises 7 paise to 71.29 vs U.S. Dollar

Traders said the Rupee gained support amid positive developments on the U.S.-China trade deal front

The Indian rupee started the New Year on a positive note and rose 7 paise to 71.29 against the U.S. Dollar in early trade on Wednesday as optimism over the U.S.-China trade deal strengthened investor sentiments.

Forex traders said easing crude oil prices and higher opening in domestic equities also supported the domestic unit.

At the interbank foreign exchange, the Rupee opened at 71.30 then gained further ground and touched 71.29 against the U.S. Dollar, showing a rise of 7 paise over its previous closing.

The Indian Rupee on Tuesday had closed at 71.36 against the dollar.

Traders said the Rupee gained support amid positive developments on the U.S.-China trade deal front.

U.S. President Donald Trump on Tuesday said that a partial new U.S.-China trade agreement will be signed in the middle of next month, announcing that he will also then travel to China for continued talks. “I will be signing our very large and comprehensive Phase One Trade Deal with China on January 15,” Trump tweeted moments before Wall Street was due to open.

Meanwhile, brent crude futures, the global oil benchmark, fell 1% to $66 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth ₹1,265.10 crore on Tuesday, as per provisional data.

Domestic bourses opened on a positive note on Wednesday with benchmark indices Sensex trading 86.91 points up at 41,340.65 and Nifty higher by 24.80 points at 12,193.25. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.70% to 97.06.

The 10-year government bond yield was at 6.54 in morning trade.

Source: Read Full Article

Comments

Popular posts from this blog

Fears coronavirus will spark divorce surge as couples self-isolate for months

Coronavirus is "very likely" to lead to an increase in marriage break-ups because of people being confined together for long periods in self-isolation, a leading divorce lawyer has said.Baroness Shackleton of Belgravia, whose previous clients have included Sir Paul McCartney, the Prince of Wales, Madonna and Liam Gallagher, revealed the view of the profession as a growing number of households go into voluntary lockdown in a bid to curb the spread of infection.Official health advice states that if one person in a property has a persistent cough or fever, everyone living there should stay at home for 14 days.Nicknamed the "Steel Magnolia" for her skills and charm, Lady Shackleton told peers at Westminster: "The prediction amongst divorce lawyers is that following self-imposed confinement it is very likely that the divorce rate will rise."Our peak times are after long exposure during the summer holidays and over Christmas."One only has to imagine what i…

At Least 23 People Dead in Australia Bushfires As Blazes Continue Raging

SYDNEY (AP) — A father and son who were battling flames for two days are the latest victims of the worst wildfire season in Australian history, and the path of destruction widened in at least three states Saturday due to strong winds and high temperatures.The death toll in the wildfire crisis is now up to 23 people, Prime Minister Scott Morrison said after calling up about 3,000 reservists to battle the escalating fires, which are expected to be particularly fierce throughout the weekend.“We are facing another extremely difficult next 24 hours,” Morrison said at a televised news conference. “In recent times, particularly over the course of the balance of this week, we have seen this disaster escalate to an entirely new level.”Dick Lang, a 78-year-old acclaimed bush pilot and outback safari operator, and his 43-year-old son, Clayton, were identified by Australian authorities after their bodies were found Saturday on a highway on Kangaroo Island. Their family said their losses left them…

Data-obsessed Brits spend an entire WEEK per year 'analysing their lives with gadgets', survey suggests

DATA driven Brits spend the equivalent of a WHOLE WEEK of each year tracking and analysing their behaviour, according to research.A survey of 2,000 adults revealed we typically use analytical apps and devices to monitor six parts of our lives.More than half (51 per cent) monitor their steps and movement, with 39 per cent tracking their fitness and 34 per cent regularly monitoring their heart rate.And one quarter of adults use apps to see how much sleep they get each night.But according to a new survey, commissioned to encourage the use of smart meters in UK homes during Big Energy Saving Week and beyond, three quarters (76 per cent) of Brits admit they haven’t the foggiest how much energy they use at home.In total, adults spend 30 minutes every day checking their health, behaviour and finances on apps and devices – the equivalent of 183 hours or seven-and-a-half days per year.A quarter like to track areas of their life because it inspires them to improve, while 22 per cent say it make…