Rupee rises 26 paise to 75.26 against US dollar in early trade


MUMBAI: The Indian rupee appreciated 26 paise to 75.26 against the American dollar at the opening of operations on Wednesday, supported by positive macroeconomic data and a rebound in the domestic equity market.
In addition, lower crude prices and a weak US currency abroad markets boosted local unity, analysts said.
In the interbank exchange rate, the rupee opened strong at 75.29 against the US dollar, then rose again to 75.26, recording a gain of 26 paise during the last close.
In the initial deals, the rupee also touched a high of 75.25 against the US currency.
The rupee fell 16 paise to finish at 75.52 against the greenback on Tuesday.
Retail inflation It fell to a five-month low of 4.35 percent in September from 7.27 percent in the same period a year earlier, as prices for vegetables and other items fell.
Industrial production grew 11.9 percent in August mainly due to a low base effect and a good performance of the manufacturing, mining and electricity sectors that exceeded the pre-Covid level.
Meanwhile, the dollar index, which measures the strength of the dollar against a basket of six currencies, fell 0.18 percent to 94.35.
World oil benchmark Brent crude futures fell 0.16 percent to $ 83.29 a barrel.
Foreign institutional investors were net sellers in the capital market on Tuesday, as they unloaded shares worth 278.32 crore, according to data from the exchange.
On the domestic equity market front, the 30-share Sensex traded 302.33 points or 0.50 percent higher at 60,586.64, while the broader NSE Nifty was up 114.75 points or 0.64 percent at 18,106.70.

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