- Tag results for US Dollar
A weak US dollar along with weak industrial output growth data resulted in the rupee closing at 70.92 today.
On Wednesday, the rupee had risen by 5 paise to close at 70.41 against the US dollar.
The rupee moved in range of 69.46 per dollar to 69.34 per dollar in early trade and was trading at 69.39, displaying strong gains of 33 paise against the greenback.
Brent crude, the global benchmark, was trading at USD 57.15 per barrel, higher by 2.14 per cent.
The global benchmark Brent crude was trading higher by 0.13 per cent at 56.02 per barrel.
At the Interbank Foreign Exchange, the rupee opened on a strong note at 69.76 against the US dollar, then appreciated further to 69.76 showing a rise of 20 paise over its previous closing.
On Wednesday, the rupee trimmed its early gains to settle 8 paise higher at 70.06 against the US currency.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 70.63 against the US dollar, showing a decline of 24 paise over it's previous closing.
The Tuesday's 112 paise ascent marked the best day for the rupee since September 19, 2013, when it had surged by 161 paise against the US dollar.
Forex traders said strengthening of the US dollar against some currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das, weighed on the local unit.
After the new RBI governor Shaktikanta Das took charge, a higher opening of domestic equity markets boosted the Indian currency.
At the Interbank Foreign Exchange, the rupee opened weak at 72.10 against the US dollar, then depreciated further to 72.17, showing a decline of 32 paise over its previous closing.
After a positive increase in the value of rupee on Friday, the greenback strengthened as its demand increased.
The rupee was depreciating from the start of this week until the greenback weakened against some currencies.
The greenback has been strengthening from the start of this week ever since global crude oil prices increased.