Rupee recovers 15 paise to 75.37 on weak dollar, lower crude prices

The rupee on Wednesday rebounded by 15 paise to close at 75.37 against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices and a benign retail inflation in September also supported the rupee sentiment, forex dealers said. At the interbank forex market, the rupee opened strong at 75.29 against the greenback. During the session, the domestic unit swung between 75.19 and 75.51. On Tuesday, the rupee had closed at 75.52 against the dollar. Retail inflation fell to a five-month low of 4.35 per cent in September from 7.27 per cent in the year-ago period as prices of vegetables and other items declined. "India's CPI fell to a five-month low in September at 4.35 per cent, well within RBI's comfort zone of 2- 6 per cent, providing RBI scope to continue with its accommodative policy stance to achieve sustainable economic recovery," Kaynat Chainwala - Fundamental Research Analyst Currencies, Anand Rathi, ...

Rupee recovers 15 paise to 75.37 on weak dollar, lower crude prices
The rupee on Wednesday rebounded by 15 paise to close at 75.37 against the US dollar following a rally in domestic equities and weak American currency in the overseas markets. In addition, lower crude prices and a benign retail inflation in September also supported the rupee sentiment, forex dealers said. At the interbank forex market, the rupee opened strong at 75.29 against the greenback. During the session, the domestic unit swung between 75.19 and 75.51. On Tuesday, the rupee had closed at 75.52 against the dollar. Retail inflation fell to a five-month low of 4.35 per cent in September from 7.27 per cent in the year-ago period as prices of vegetables and other items declined. "India's CPI fell to a five-month low in September at 4.35 per cent, well within RBI's comfort zone of 2- 6 per cent, providing RBI scope to continue with its accommodative policy stance to achieve sustainable economic recovery," Kaynat Chainwala - Fundamental Research Analyst Currencies, Anand Rathi, ...