Rupee surges 7 paise to 74.26 against US dollar in early tradebusinessUpdated: Aug 26, 2020 10:47 ISTThe rupee appreciated 7 paise to 74.26 against the US dollar in early trade on Wednesday supported by foreign fund inflows and optimism surrounding trade the deal between the US and China. The local unit opened at 74.34 against the US dollar, then gained ground and touched 74.26, up 7 paise over its previous close, even as the domestic equity market was trading in the negative territory. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.11 per cent to 93.12. Asian currencies have started stronger against the US dollar this morning and could lend support, it added. The 30-share BSE benchmark Sensex was trading 61.19 points lower at 38,782.69 and the broader NSE Nifty fell 4.65 points to 11,467.60.

Source: Hindustan Times August 26, 2020 05:18 UTC