The Indian rupee gained against the dollar in early trades on Thursday, 15 November 2018 as crude oil prices hovered near one-year lows and ease in worries over current account deficit and inflation. The strength in the rupee was also supported by increased selling of dollars by exporters and the American currency's weakness against some currencies overseas. Besides, a higher opening of the domestic equity market too influenced the rupee. The domestic currency opened at Rs 72.04 against the dollar but eased to a low of 72.1550 so far during the day. In the spot currency market, the Indian unit was last seen trading at 72.13. The local currency gained 36 paise to end at 72.31 against the US dollar on Wednesday. Domestic benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 103.27 points or 0.29% at 35,245.26. The Nifty 50 index was up 26.75 points or 0.25% at 10,603.05. Overseas, Asian shares were mixed despite an improvement in market risk sentiment after British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory. Meanwhile, the dollar continued to give up gains against its rivals Wednesday following subdued inflation data and a rise in sterling after UK Prime Minister Theresa May secured support from her Cabinet for a draft Brexit deal. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, fell by 0.41% to 96.75. Powered by Commodity Insights
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