Rupee extends gain in morning trade, up 27 paise

The local currency touched the 70/dollar mark for the first time in two months, gaining for the third session against the US dollar on continued inflows from foreign investors in local equity markets.

Mar 07, 2019 04:03 IST India Infoline News Service

Rupee
The Indian rupee opened higher by 30 paise in morning trade on Thursday. The local currency touched the 70/dollar mark for the first time in two months, gaining for the third session against the US dollar on continued inflows from foreign investors in local equity markets.

Currently, the local unit is trading higher by 27 paise at 70/$.

The 10-year bond yield was trading at 7.387%, as compared to its Wednesday's close of 7.388%.

The local currency on Wednesday gained by 21 paise to close at 70.28 against the US dollar on easing crude oil prices even as the greenback strengthened vis-a-vis other major currencies.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs70.57, while for the Euro, it was at Rs79.76. The RBI’s reference rate for the Yen stood at Rs63.13; the reference rate for Great Britain Pound (GBP) was Rs92.71.

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