Currency Check | Rupee opens higher by 29 paise at 93.74 per dollar
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Indian rupee opened higher by 29 paise at 93.74 per dollar on November 11.
- ✓Softer oil prices helped the currency gain strength against the dollar.
- ✓However, rising US Treasury yields and inflation data could limit further growth.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Moneycontrol
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The Indian rupee opened higher on November 11, supported by softer oil prices, while a jump in US Treasury yields after inflation rose faster than expected could be a dampener.
The rupee opened higher by 29 paise at 93.74 per dollar, compared with Monday’s close of 93.93.
According to Finrex, the rupee is expected to open higher at 93.71 this morning after it touched 93.50 in NDF movement yesterday. The dollar index which had fallen to 101.4 levels yesterday rose to 102.22 after the redhot CPI inflation bringing the market expectations of a FED rate hike in December by 25 bps.
The Brent oil was down to $ 92.05 after touching almost $ 90 yesterday. There was a good chance for exporters to sell on Monday when $ rose to 94.1250 due to buying by RBI/SBI/Oil importers.
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Moneycontrol
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