Rupee recovers 29 paise to 72.60 against dollar in early trade
The rupee recovered by 29 paise to 72.60 against the US currency in early trade on Tuesday, owing to easing global crude oil prices and better-than-expected macro economic data on the domestic front.
Besides, fund inflows by foreign investors and the US dollar’s weakness against some currencies overseas also supported the domestic unit, dealers said.
At the Interbank forex market, the rupee opened with strength at 72.81 and advanced to 72.60 against the dollar, showing a rise of 29 paise over its previous close of 72.89.
Retail inflation fell to a one-year low of 3.31 per cent in October on the back of cheaper kitchen staples, fruits and protein-rich items, official data released on Monday showed.
Industrial production grew at the slowest pace in four months at 4.5 per cent in September mainly due to poor performance of mining sector and lower offtake of capital goods.
LETTER FROM THE EDITOR: A SPECIAL THANKS TO OUR READERS
LETTER FROM THE EDITOR: A SPECIAL THANKS TO OUR READERS