Rupee rises against US dollar in early trade, touches 20.34 vs dirham

Rupee rises against US dollar in early trade, touches 20.34 vs dirham

At the interbank forex market, the rupee opened at 74.74, gained further ground and touched 74.69 against the US dollar.





The Indian rupee surged 15 paise to 74.69 against the US dollar in early deals on Friday tracking weakness in the greenback. ( Check out the real-time gold and forex rate)

At the interbank forex market, the rupee opened at 74.74, gained further ground and touched 74.69 against the US dollar, up 15 paise over its last close of 74.84.  The rupee was trading at 20.34 at 9.30am (UAE time) against the UAE dirham, according to XE.com.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.40 per cent to 92.65.

"The US dollar extended losses this morning in Asian trade weighed down by weak economic data and President Trump's tweet on elections," Reliance Securities said in a research note.

The US economy plunged by a record-shattering 32.9 per cent annual rate last quarter.

US President Donald Trump on Thursday for the first time openly floated the idea of postponing the presidential elections in November, a suggestion immediately criticised by leaders of the opposition Democratic Party.

"With universal mail-in voting (not absentee voting, which is good),