Rupee opens higher by 11 paise at 65.48/$

On macroeconomic side, growth in India’s eight core sectors during September rose 3.2%, a 4‐ month high. The currency touched a high and low of 65.76 and 65.80 respectively.

Indian Rupee today opened higher by 11 paise at 65.48/$ in early trade on Tuesday. On macroeconomic side, growth in India’s eight core sectors during September rose 3.2%, a 4‐ month high. The strength in the reading was attributed to resurgence in fertilizer production and electricity generation. The core sectors had grown at 2.6% during the same month last year. In US, manufacturing activity during October hit a 2‐1/2‐year low, while the employment index hit its lowest level since August 2009. On the brighter side, new orders rebounded slightly, with the index coming in at 50.1, although this is marginally above the 50 mark. US construction spending during September gained 0.6%. On the global front, the Dow is up for the year after it added close to a percent on Monday. S&P 500 gained 1.19% and managed a close above 2100. Nasdaq was among the biggest gainers adding 1.45%. Asian markets too are trading well in the green.

The rupee ended at 65.59, lower by 33 paise from its previous close of 64.26 on Monday. The currency touched a high and low of 65.76 and 65.80 respectively.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 65.47 and for Euro stood at 72.21 on November 02, 2015. While, the RBI’s reference rate for the Yen stood at 53.93, the reference rate for the Great Britain Pound (GBP) stood at 101.0608