The Indian rupee gained in the early trade on Thursday. It has opened higher by 27 paise at 71.43 per dollar versus Wednesday’s close 71.70.
On January 8, the Indian rupee retrieved early losses to settle 12 paise higher at 71.70 against the US dollar, but overall forex market sentiments remained subdued amid further escalation in US-Iran tensions.
The dollar-rupee January contract on the NSE was at 71.86 in the previous session. Open interest declined by almost 0.88% in the previous session. Utilise upsides in the pair to initiate short positions, said ICICIdirect.
Oil prices rose on Thursday, recouping some of the heavy losses from the previous session as the market rebalanced after Washington and Tehran looked to defuse a potential Middle East crisis.
Gold prices were steady, retreating from the near seven-year peak hit in the previous session, as a softening rhetoric by the United States and Iran allayed concerns of a larger military conflict.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
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