Rupee surges 19 paise against US dollar

MUMBAI: The rupee surged via 19 paise to 68.65 towards the US forex in early industry on the Interbank Foreign Exchange lately because the buck weakened globally, amid overseas fund inflows.

Increased selling of the American forex via exporters and banks amid a higher opening within the home equity market lifted the home forex, sellers stated.

The buck extended losses towards world currencies overseas after US President Donald Trump doubled down on his complaint of worldwide monetary coverage and the Federal Reserve last week.

Further, a higher opening within the home equity market boosted the rupee, they added.

On Friday, the rupee staged an excellent rebound from life-time low ranges, surging 21 paise to end at 68.84 towards the buck on suspected the central bank's intervention to check volatility in forex markets.

Meanwhile, the benchmark BSE Sensex rose further via 79.40 points, or 0.21 per cent to industry at 36,575.77 in early industry. Foreign portfolio buyers (FPIs) bought stocks value Rs 310.27 crore on Friday, as per provisional information.