The Indian rupee erased some of its morning gains but still trading higher by 19 paise at 70.64 per dollar, with buying seen in the domestic equity market.
It opened 29 paise higher at 70.54 per dollar versus previous close 70.83.
On December 12, the rupee ended marginally higher at 70.83 against the US currency amid uncertainty over the delay in the deadline for imposition of higher US tariffs on Chinese goods.
The Sensex was up 333.71 points or 0.82% at 40915.42, and the Nifty was up 85.20 points or 0.71% at 12057.00.
Oil prices extended gains on Friday, scaling three-month highs as the United States and China moved closer to a resolution to the 18-month trade war between the world’s two biggest economies that has raised big questions about global demand for crude.
The dollar-rupee December contract on the NSE was at 70.92 in the previous session. Open interest increased 23.80% in the previous session, said ICICIdirect.
We expect the USDINR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.
Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India’s leading expert on wealth building, has created a strategy which makes it possible… in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
- Trading Psychology - Three Things You Can Do to Start the Trading Day Right For Better Trading
- Make Money Fast Day Trading? - Day Trading Software Can Help
- How to Day Trade - Day Trading Robot
- Can I Make Money Day Trading? Day Trading Secrets to Cash In
- Rupee logs 3rd straight day gains, up 12 paise at 71.72
- Rupee pares gains, settles flat at 69.36 a US dollar
- Want to Make Money in the Stock Market? Use These Tips to Start Making Money Day Trading
- Interested in Making Money Day Trading? Here Are Four Money Making Tips to Use
- What Are the Most Important Forex Trading Strategies
- How to Become Successful in Day Trading - 3 Quick Tips