News Column

Indian Rupee Rises To 5-day High Against US Dollar

August 10, 2014

NEW DELHI (Alliance News) - The Indian rupee strengthened against the US dollar in the morning deals on Monday as regional shares gain on easing tensions over Ukraine.

The benchmark S&P Sensex is currently up 44.87 points or 0.59% at 7,690, while the broader CNX Nifty Index is up 45.20 points or 0.60% at 7,613.

Concerns over the crisis in Ukraine eased as Russia sought to de-escalate the conflict in Ukraine and US airstrikes against militants in northern Iraq eased worries over the risk of oil supply disruptions. US President Barack Obama stressed that he would not send ground troops back into Iraq.

Also, Israeli and Palestinian negotiators on Sunday accepted Egypt's call for a new 72-hour cease-fire in a last-ditch attempt to avert the ongoing bloody war in Gaza.

Against the greenback, the rupee rose to a 5-day high of 61.0300 from an early low of 61.1650. At last week's close, the rupee was trading at 61.1500 against the greenback.

If the rupee extends its uptrend, it is likely to find resistance around the 60.61 region.

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Source: Alliance News

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