INSUBCONTINENT EXCLUSIVE:
the fourth day, despite a rebound in oil prices and a stronger dollar
Crude oil prices falling below the $70 per barrel mark and forex inflows have boosted the rupee sentiment as the domestic currency posted
and gains in equity markets aided the rupee to post gains for the fourth day.The rupee opened higher at 71.94 per dollar against the last
close of 71.97 per dollar and later touched a high of 71.71 per dollar on forex inflows and positive export data.The rupee, however, lost
most of the gains later in the day as oil prices rebounded more than 1.5 per cent, triggering concerns over inflation and current account
deficit.The rupee finally settled higher by 4 paise at 71.93 per dollar, a level not seen since September 14.Foreign funds bought shares
worth a net of Rs 844 crore Friday, the provisional data showed.Meanwhile, the BSE Sensex Friday continued its rising streak for the second
day to end at near a four-week high of 35,436.33.The Brent crude gained 1.58 per cent to $67.67 per barrel after Saudi Arabia reiterated its
call to reduce production from December.Meanwhile, the British pound rebounded from lows Friday after Theresa May stuck to her Brexit deal
despite strong opposition
