INSUBCONTINENT EXCLUSIVE:
25 paise to close at 70.46 against US dollar as continued rise in global crude oil prices weighed on sentiments
Besides, stronger US dollar against major global currencies also put pressure on domestic currency
At Interbank Foreign Exchange (forex) on Wednesday, rupee opened on a firm note at 70.08, but soon pared its initial gains and fell to an
intra-day low of 70.65 against US dollar
The domestic currency, however, recovered some lost ground and finally settled for day at 70.46 per dollar, down 25 paise over its previous
Along with risk-on sentiment and rise in crude oil added pressure on rupee," said V K Sharma, head PCG and capital markets strategy, HDFC
Securities.The US and Chinese negotiators extended trade war talks into a third day Wednesday, and traders believe that extension shows both
sides are serious about negotiations.Meanwhile, Brent crude futures, global benchmark, were further up and trading at 59.75 per barrel, a
rise of 1.75 per cent.The dollar index was trading lower by 0.06 per cent at 95.84 against a basket of six currencies in late afternoon
rising spree for fourth session, benchmark BSE Sensex reclaimed 36,000 mark by jumping over 200 points Wednesday
The 30-share index settled at 36,212.91, showing a gain of 231.98 points, or 0.64 per cent
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15.
