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The Economic Times
The Economic Times
Business

Rupee rises 17 paise to 95.56 against US dollar in early trade

United States US Dollar the US Treasury Amit Pabari US Federal Reserve Oil India

The rupee appreciated 17 paise to 95.56 against the American currency in early trade on Thursday tracking a weak US dollar, after the US Treasury announced that it would double its buyback operations for longer-dated Treasury bonds.

Forex traders said the dollar index fell to its lowest level since late May after the US Treasury announced that it would double its buyback operations for longer-dated Treasury bonds, pushing US long-term yields lower and reducing the dollar's yield advantage.

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