Rupee higher against dollar on strong China trade data

The rupee rose against the dollar after opening flat on Thursday. It is up at 54.62/64 versus Wednesday's close of 54.75/76.

 

"There is a small bout of selling that has come in after the good China data," a foreign bank dealer said.

 

China's exports in December grew 14.1 per cent from a year earlier to hit a seven-month peak, data showed on Thursday, while analysts polled by Reuters expected annual growth of 4 per cent. Imports grew 6 per cent.

 

The government's move to mend public finances is also positive for the rupee.

 

Local shares, which opened strong, rose 0.53 per cent today.

 

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