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Commodity news: Rupee inches up Higher on Foreign Fund Inflows

rupeeThe Indian rupee spiked higher against the U.S dollar in early trades on Wednesday, 15 Nov 2017 on fresh selling of the US currency by exporters, together with support fresh inflow of foreign funds and weakness in the dollar against other currencies.

The rupee opened at Rs 65.40 against the U.S. dollar and jumped to a high of 65.30 during the mid-session day. On Tuesday, the rupee had ended flat to close at 65.42 against the US currency.

Domestic benchmark indices edged lower in today’s early trade tracking weakness in global stocks, while overseas, Asian stocks also edged lower with falling on weakening oil prices.
Meantime, Indian Gold prices stayed near to 30,000 levels in intraday trades today. The benchmark contract ended the session at Rs.29,639 per 10 gram, down 0.38 percent.

Gold prices stayed firm as investors awaited the consumer inflation data for October, from the U.S on the Federal Reserve’s monetary tightening policy. Spot gold was up 0.1% at USD 1,281.73/ounce.