Rupee rises 36 paise to 71.30 against USD in early trade

MUMBAI: The Indian rupee appreciated by 36 paise to 71.30 against the US dollar in early trade on Thursday as gains in domestic equity market and fresh foreign fund inflows strengthened investor sentiments.

Rupee rises 36 paise to 71.30 against USD in early trade

Forex traders said Trump delaying the increase in Chinese tariff by 15 days enthused investors.

rchopra@tribunemail.com

Mumbai, September 12

The Indian rupee appreciated by 36 paise to 71.30 against the US dollar in early trade on Thursday as gains in domestic equity market and fresh foreign fund inflows strengthened investor sentiments.

Forex traders said Trump delaying the increase in Chinese tariff by 15 days enthused investors.

US President Donald Trump has announced the delay of his proposed massive increase in Chinese import tariffs by 15 days.

At the interbank foreign exchange the rupee opened at 71.46, then gained further ground and touched a high of 71.30, registering a rise of 36 paise over its previous close.

The domestic unit, however, could not hold on to the gains and was trading at 71.35 against the dollar at 0949 hrs.

On Wednesday, the rupee had settled for the day at 71.66 against the US dollar.

Describing this as a goodwill gesture, Trump said on Wednesday night that he had moved the increased tariffs on USD 250 billion worth of goods from October 1 to October 15. PTI

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