From Greater Kashmir
Owned by GK Communications Pvt. Ltd.Rupee rises 7 paise to 94.05 against US dollar in early trade
What's behind this
The Indian rupee slipped 8 paise to close at 94.20 per US dollar, pressured by a stronger greenback and weak domestic equities. Traders attributed the dollar’s strength to stronger‑than‑expected US inflation data, rising Treasury yields and hawkish comments from Federal Reserve officials, which reinforced expectations of further monetary tightening. In the interbank market the rupee opened at 94.07, reached an intra‑day high of 94.05 and a low of 94.28.
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RSS excerpt
Mumbai, Nov 13: The rupee traded in a narrow range and gained marginally by 7 paise to 94.05 against the US dollar in early trade on Friday, as the support from foreign fund inflows was negated by broad-based strength in the dollar. Forex traders said the rupee is showing positive momentum, driven…