News Column

Indian Rupee Trades Higher Against US Dollar

July 16, 2014

NEW DELHI (Alliance News) - The Indian rupee trimmed its early losses against the US dollar and traded higher in later deals on Wednesday.

Positive domestic exports figures for June and surge in regional stocks supported the rupee.

Data from the Ministry of Commerce and Industry showed that India's exports grew by 10.22% to USD26.4 billion in June, growing in double digits for the second month in a row. Imports climbed 8.33% annually to USD38.24 billion, leaving a trade deficit of USD11.76 billion.

The benchmark S&P BSE Sensex climbed 321.07 points or 1.27% to 25,549.72, while the broader CNX Nifty index closed up 97.75 points or 1.30% at 7,624.40.

The rupee was trading around yesterday's close of 60.13 per greenback, off early 5-day low of 60.2755.

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Source: Alliance News

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