Mumbai: The rupee firmed 9 paise to 65.08 against the dollar in opening trade
today after the greenback came under pressure as US President Donald
Trump's comments raised concerns of a global trade war.
Trump on
Friday said trade wars were good and easy to win. His plan to put
tariffs on steel and aluminium imports triggered negative sentiments
across overseas markets.
Forex dealers said weakness in the
dollar against some other currencies overseas and foreign capital
inflows in the domestic equity markets supported the rupee.
According to provisional exchange data, foreign portfolio investors
(FPIs) bought shares worth a net Rs 241.85 crore on net basis on
Thursday.
On Thursday, the rupee failed to benefit from highly
bullish macroeconomic trends and ended virtually stable at 65.17 against
the US dollar even as India regained title of world's fastest-growing
major economy amid imminent Fed rate hike fears.
Meanwhile, the benchmark BSE Sensex fell 249.79 points, or 0.73 per cent, to 33,797.15 in early trade today.
PTI
