Millennium Post

Rupee opens flat against US dollar in early trade

Mumbai: The rupee edged one paisa higher to 62.63 against the US dollar in early trade today after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome.
Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies as senior Chinese and US officials met in Beijing today for a second day of trade talks, supported the domestic unit.
Investors are also keeping an eye on the US employment report for April for further indications of the strength of the US labour market and inflation pressures, they added.
Yesterday, the rupee had ended marginally 2 paise higher at 66.64 against the US dollar despite a caution among investors ahead of trade talks between China and the US.
Meanwhile, the benchmark BSE Sensex rose by 103.41 points, or 0.29 per cent, to 35,206.55 in opening trade today.

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