Free Commodity Tips: Rupee Rises, Up To 7 Months High

Free Commodity Tips Expert Said The rupee continues to strengthen. On Tuesday, the rupee strengthened by two paise to 68.51 against the US dollar in early trade. The meeting of the US Central Bank Federal Reserve is being started today.

Foreign exchange dealers say that the dollar has weakened against other major currencies of the world. It has got the benefit of Rs. Apart from this, export of dollar by the exporters and banks also got support of rupees. The domestic stock market opens with firmness. Its effect also shows on the rupees.

On Monday, Free Commodity Tips Report the rupee closed at a record high of 68.53 for seven months, with a remarkable gain of 57 paise. In the rupee, the 6th consecutive session strengthened. Indeed, the rupee has received support from foreign exchange flows and lowering the trade deficit. According to provisional figures, on a net basis, Foreign Portfolio Investors (FPI) bought shares worth Rs 1,823 crore, while domestic institutional investors (DII) sold shares worth Rs 1,269 crore on Monday,

Talking about the domestic share market, at around 9:30 this morning, the BSE 30-share Sensex was 58 points, or 0.15 per cent, at 38,153. NSE's 50-share Nifty 50 was trading 14 points higher at 11,476 points.

The domestic market has got support from the American stock exchanges. The US Central Bank, which starts today, is the eyes of markets across the world on the Federal Reserve meeting. It is believed that the Federal Reserve will signal the softening of its monetary policy.