The Indian rupee appreciated by 19 paise to 71.59 against the US dollar in early trade on Monday tracking gains in domestic equity market and weakening of the American currency vis-a-vis other currencies overseas. Forex traders said market participants were enthused after the US and China negotiators held ‘constructive’ call on trade deal. At the interbank foreign exchange the rupee opened at 71.67, then gained further ground and touched a high of 71.59, registering a rise of 19 paise over its previous close. However, weakening of the American currency vis-a-vis other currencies overseas supported the rupee. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.08 per cent to 97.92.

Source: The Hindu November 18, 2019 04:52 UTC