In early trading, the rupee strengthens 15 paise to 82.47 against the US dollar.
The Indian rupee strengthened in early trading on Tuesday against the US dollar. At 9:15 am, the rupee was trading at 82.47, up 15 paise from its previous close of 82.62. The rupee had opened at 82.60 against the dollar.
The strengthening of the rupee comes as a surprise as it was expected to weaken following the US Federal Reserve’s announcement of quantitative easing measures. However, the dollar has weakened against a basket of currencies, helping the rupee.
The Indian rupee is likely to remain under pressure in the near-term as the US Federal Reserve’s quantitative easing measures are expected to lead to a further weakening of the dollar.
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