Rupee rises 20 paise to 75.71 against US dollar in early trade
Forex traders said besides the encouraging results in COVID-19 vaccine trial, higher opening of domestic equities and weakening American currency supported the local unit.
The rupee opened with gains this Tuesday amid improving risk appetite after encouraging data from the trial of a vaccine for COVID-19. Initial data from Moderna Inc’s COVID-19 vaccine showed that it produced protective antibodies in a small group of healthy volunteers,” Reliance Securities said in a research note.
Domestic bourses were trading on a positive note on Tuesday with the benchmark Sensex surging 571.51 points to 30,600.49 and broader Nifty rising 165.60 points to 8,988.85.
Source – DD News