Rs. climbs 6 paise to 67.11/$ on firm Asian cues


NEW DELHI: The domestic currency rose 6 paise to 67.11 against the US dollar in early trade on Wednesday amid a positive trend in Asian currency markets.

The domestic currency had snapped a three-day rise on Tuesday as it fell 5 paise for the day to settle at 67.17 amidst fresh dollar demand from banks and importers.

“The release of the Bank of England monetary policy has been scheduled for July 14.This would be the first policy after the UK’s exit referendum. The assessment and measures taken by the bank, along with data from China (growth and industrial production) will affect risk preferences, globally,” India Ratings said in a note.

Earlier in the day, the Chinese yuan was trading 0.07 per cent higher at 6.68 per dollar ahead of the trade surplus data. The Japanese yen advanced 0.16 per cent to 104.50 against the greenback ahead of industrial output data. The data is likely to show further contraction in industrial activity in Japan and may raise hopes for additional stimulus by the Bank of Japan.

The Korean won (up 0.26 per cent), the Philippine peso (up 0.23 per cent), the Indonesian rupiah (up 0.21 per cent) and the Taiwanese dollar (up 0.11 per cent), remained the other major gainers in Asia.

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