Rupee opens up on broad dollar weakness

Rupee opens up on broad dollar weakness

Mumbai: The rupee rose in early deals on Thursday, heading back towards 9-½ year highs, as weak US data fuelled hopes of a Fed rate cut, pushing the dollar down against a basket of currencies.

At 9:01 am, the partially convertible rupee was at 39.45/46 per dollar, a quarter of a percent above Wednesday’s close of 39.545/39.550.

Last week it hit 39.27, its strongest level since March 1998.

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