Rupee up against dollar on increased
selling of the
American currency
The rupee gained 9 paise to 62.72
against the dollar in early trade today at
the Interbank Foreign
Exchange on increased selling of the American
currency by banks and
exporters amid lower dollar value overseas on
tepid US manufacturing
data.
Forex dealers said sustained capital inflows and a higher
opening of the
domestic equity market boosted the rupee sentiments.
Yesterday, the rupee had gained 16 paise to end at 62.81 against the
American currency on fresh selling of dollars.
Euro rises almost 1% and US
equities climb
The dollar weakened broadly on Monday
ahead of the Federal Reserve's
policy meeting on worries that the US
central bank could become more
cautious about raising interest
rates, while Wall Street stocks rose because
the greenback's fall
eased worries about the effect on corporate profits.
Oil prices fell
again, down about 3 per cent on concerns about over-
supply, with US
crude hitting a six-year low.
The euro, which has lost roughly a
quarter of its value against the dollar
since mid-2014, rose 0.9
percent to $1.0595 after earlier hitting its lowest
level since
January 2003.
The pan-European FTSEurofirst 300 index gained 1
percent, while
Germany's DAX rose 2.2 per cent to a record high of
12,167.72 before
easing slightly. The MSCI International ACWI Price
Index was up 0.9 per
cent.
The Dow Jones industrial average rose
179.98 points, or 1.01 percent, to
17,929.29, the S&P 500 gained
20.44 points, or 1 per cent, to 2,073.84,
and the Nasdaq Composite
added 41.80 points, or 0.86 percent, to
4,913.56.
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