Home Business Rupee rises 6 paise to 75.14 in early trade versus U.S. dollars

Rupee rises 6 paise to 75.14 in early trade versus U.S. dollars

by the owl speaks

The rupee appreciated 6 paise to 75.14 in early trade against the U.S. dollar on Monday tracking greenback weakness and domestic stock market gains.

The rupee opened against the U.S. dollar at 75.20, then gained more ground and reached 75.14 against the U.S. dollar, up 6 paise from its previous close.

Friday, it had settled against the greenback at 75.20.

Forex traders said the local unit was supported by positive domestic equities and weak U.S. currency while foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment.

Meanwhile, investors are supposed to be releasing information from the Consumer Price Index ( CPI) data later in the day, traders said.

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