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Rupee surges 31 paise against US dollar

Prime News, National and International, Business, Mumbai, August 30:- The Indian rupee appreciated 31 paise to 73.38 against the US dollar in opening trade on Monday (August 30), tracking a positive trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 73.46 against the dollar, then surged higher to 73.38, up 31 paise over its previous close. On Friday (August 27), the rupee had settled at 73.69 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.07% at 92.62.

Investor sentiment got a boost after the United States Federal Reserve chief Jerome Powell said that the US central bank was still far from pulling interest rates off the record low, traders said.

Global oil benchmark Brent crude futures rose 0.08 percent to $72.76 per barrel.
On the domestic equity market front, BSE Sensex was trading 499.53 points or 0.89% higher at 56,624.25, while the broader NSE Nifty advanced 148.20 points or 0.89% to 16,853.40.
Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth ₹778.75 crore, as per exchange data. (Inputs: Agencies, NGB)

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