# Rupee gains 30 paise against dollar in opening trade  - The HinduBusinessLine

> The rupee rose 30 paise to 70.05 per dollar in opening trade, helped by foreign fund inflows, a weaker dollar and lower crude prices. Crude had fallen 4.24% the previous day after a rise in US inventories, then recovered slightly. Domestic stocks opened up to 1%.

- Date: 2018-12-28 · published 2018-12-28T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/61850-rupee-gains-30-paise-against-dollar-in-opening-trade-the-hindubusinessline
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A cheaper crude import bill eases India's current account pressure, which supports the rupee and lowers the cost of dollar-priced imports.

## Read by commodity

- USDINR: bearish ▼

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/forex/re-trading-at-7005-to-the-dollar/article25848004.ece

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.