Rupee rises 21 paise to 75.30 in early trade; Narendra Modi's Rs 20-lakh cr economic stimulus package enthuses investors
FirstpostThe rupee appreciated 21 paise to 75.30 against the US dollar in early trade on Wednesday as Prime Minister Narendra Modi’s Rs 20 lakh crore economic stimulus package enthused investors Mumbai: The rupee appreciated 21 paise to 75.30 against the US dollar in early trade on Wednesday as Prime Minister Narendra Modi’s Rs 20 lakh crore economic stimulus package enthused investors. At the interbank foreign exchange, the rupee opened at 75.31, then gained ground to touch 75.30, registering a rise of 21 paise over its previous close. In a big push to revive the COVID-hit economy, Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore. Foreign institutional investors were net sellers in the capital market, as they offloaded equity shares worth Rs 1,662.03 crore on Tuesday, according to provisional exchange data.