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Rupee off day highs, trading at 71.83 per dollar


Indian rupees have removed most of the intraday gains and are trading at today's high at 71.83 per dollar, with the domestic equity market ending in marginal gains.

The local currency opened higher with 18 paise at 71.79 per dollar and touched a high of 71.68 on intraday.

At the close, Sensex rose 70.21 points to 40,356.69, while Nifty rose 23.20 points at 11,895.30.

On November 14, the rupee had posted gains after five losing sessions, as it closed 12 points higher at 71.97 against the US dollar.

Oil prices posted an initial rise as OPEC's prospects for oil demand next year fueled hopes that the producer group and its partners will close supplies when they meet to discuss production policies next month.

The dollar gained broad support on Friday as new signs of a slowing global economy and the slight visible progress towards a Sino-US trade ceasefire left investors in a risk-averse mood. Get access to the fastest growing financial subscription service in India Moneycontrol Pro for only Rs 599 for the first year. Use "GETPRO" code. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, see the Moneycontrol website or mobile application.

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