The Rupee Monday Recovered By 4 Paise To Close At 70.14 Against The US Currency, Aided By Weak Crude Oil Prices And The Dollar's Losses In Global Markets Due To Political Uncertainty In The US.
The Indian rupee has opened at 69.88 per US dollar against Monday’s close of 70.13 per US dollar.
Lower crude oil prices is likely to have aided the currency on Wednesday morning. The rupee Monday recovered by 4 paise to close at 70.14 against the US currency, aided by weak crude oil prices and the dollar's losses in global markets due to political uncertainty in the US.
Crude oil prices remained below the USD 55 per barrel mark, strengthening the rupee sentiment, a forex dealer said.
The dollar was weak against major currencies in global markets which supported the local currency, the dealer said.
The dollar index, which measures the US currency's strength against a basket of six major global currencies, was down at 96.27 amid growth worries and political uncertainty in the US due to the shutdown.
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