Rupee opens lower by 4 paise against USD | Elite Investment Advisory

In the FOREX market, the rupee was trading lower by 4 paise at 66.96 against US dollar in early trade on Wednesday, due to increased demand for the US currency from importers. The greenback’s gains against other currencies overseas, aided the pressure sentiments on the rupee. On 20 Feb, 2017 the rupee had gained 9 paise to close at 66.92 per dollar in view of strong foreign capital inflows together with a firm equity market. 

Meantime, the U.S dollar index, which gauges the greenback's strength against a trade-weighted basket of 6 major currencies, eased 0.17 percent to 101.28. Back to Indian market, the domestic benchmark BSE Sensex rose 159.47 points, or 0.55%, to 28,921.06, while the Nifty50 index was up 41.35 points or 0.46% at 8,949.20, at 12.20 pm today.