Rupee gains tracking stocks on course for best month since August and as Oil Prices dive

The rupee gained a touch early on Thursday on robust domestic bourses, which were on track for their best month since August.

Another thing that helped the currency was the sharp fall in oil prices as the US administration is set to release 1 million barrels of crude a day for several months from their Strategic Petroleum Reserve (SPR).

Reuters quoted the rupee was last changing hands at 75.75 against the dollar from Wednesday’s close of 75.90, while the PTI reported the currency advanced 23 paise to 75.67 in the opening trade on Thursday.


At the interbank foreign exchange, the rupee opened at 75.67 against the US dollar, registering a rise of 23 paise from the previous close.

But the dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.14 per cent, trading last at 97.92.