Rupee opens 32 paise up at 71.70 against dollar

The rupee on Thursday opened 32 paise higher at 71.70 against the US dollar on account of some selling in American currency by banks and exporters amid the prompt appointment of former bureaucrat Shaktikanta Das as the new RBI Governor.

India’s headline inflation decelerated sharply in November, coming in below consensus expectations. On a year-on-year basis, inflation slowed to 2.33 per cent. The moderation was driven by a fall in food and transportation prices. On a sequential basis, headline consumer price index rose 0.07 per cent in the month, a slowdown from 0.36 per cent rise seen in October.

On a year-on-year basis, the inflation has eased to a 17-month low.


The local currency declined 16 paise to close at 72.02 against the US dollar on Wednesday.

Meanwhile, domestic equity markets opened in the green following global cues. The BSE Sensex advanced over 200 points to 35,990 in early trade, while the NSE Nifty index was hovering above 10,800 level.