INR VS USD: The rupee gained 10 paise to 72.41 against the US dollar.The rupee recovered after opening lower at 72.65 against the US dollar on Tuesday, reported news agency Press Trust of India (PTI).
The rupee gained 10 paise to 72.41 against the US dollar amid volatility in early trade on fresh selling of the US currency by exporters and banks.
Fall in crude oil prices and weakness in the dollar against some currencies amid the escalating US-China trade conflict, helped the rupee to rebound, forex dealers were quoted as saying in the PTI report.
A higher opening in the stock market also aided the rupee, they said.Meanwhile, the 10-year benchmark bond yield fell to 8.07 per cent from 8.10 per cent at previous close, eyeing the currency market, stated a report by news agency Reuters.On Monday, the rupee fell 67 paise to close at 72.51 against the greenback.Meanwhile, the International Monetary Fund (IMF) said that the real effective depreciation of the rupee is between six and seven per cent.The SP BSE Sensex opened at 37,660.19 and the Nifty50 index of the National Stock Exchange (NSE) at 11,381.55.
(With agencies inputs)