Indian Rupee Hits New 4-week High Against U.S. Dollar
April 29 2020 - 12:58AM
RTTF2
The Indian rupee strengthened against the U.S. dollar in
afternoon deals on Wednesday, as regional shares rose, tracking
positive global cues, as some countries are considering to
partially lift restrictions due to coronavirus.
Oil prices rose after U.S. inventories rose less than expected
last week and easing coronavirus lockdown restrictions in some
European countries and U.S. cities spurred hopes for a pick up in
demand.
The benchmark S&P BSE Sensex rose by 632 points, or 1.97
percent, to 32,746, while the broader NSE Nifty index was up 178
points, or 1.90 percent, at 9,559.
The Indian rupee appreciated to 74.73 against the greenback, its
biggest since March 31. If the rupee rises further, 72.00 is likely
seen as its next resistance level.
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