The Indian rupee extended gain for the third consecutive trading session on Thursday. The currency gained 13 paise on Thursday to trade at intraday’s high level of 70.21 against the dollar amid marginal rally witness in global equity markets.
The currency has opened 8 paise higher at 70.26/$. At 12:05, PM, IST, the currency gained 9 paise compared to its previous close at 70.25/$.
The appreciation could be attributed to a marginal rally in global equity markets. Indexes in Hong Kong and China were modestly higher after US President Donald Trump shows a willingness to meet China’s president in the G20 summit.
Further, on domestic front, India’s trade deficit for April month widened to 5-month high of $15.3mn on the back of rising gold imports, data released by the commerce ministry showed. However, merchandise exports lost the growth momentum of March amid rising trade tensions between China and the US.
Meanwhile, the equity benchmark indices were trading in the green with the Sensex rising 32 points at 37,146 levels. The Nifty gained 18 points at 11,174 levels.
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