Rupee at 2-week high, gains 53 paise in early trade

• Continuing its uptrend, the rupee firmed by another 53 paise to trade at over a two-week high of 71.84 against the US dollar.

About the Currency war

• The forex dealers said that besides the dollar’s weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee.

• On Wednesday, the rupee had gained 61 paise, notching up its best single-day gain since March 2017 to close at 72.37 against the US currency supported by heavy dollar selling by banks and weakness in the greenback in global markets.

• Meanwhile, the benchmark BSE Sensex recovered by 231.40 points, or 0.62 per cent, to 37,352.62 in morning trade.

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Mains Paper 2: Economy

Prelims level: Sensex

Mains level: Not so important

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