Comments
Snapping its three-day losing streak, the rupee was trading strong by 4 paise at 67.64 on fresh selling of the American currency by exporters and banks amid a firm trend in the domestic equity market.
According to forex dealers, the dollar’s strength against other currencies overseas capped the rupee's gains.
The dollar rose 0.4 per cent against the yen to 117.77 yen, having recovered from a five-month low of 116.51 set on Friday for now.
The domestic unit opened a tad strong at 67.67 against the dollar at the Interbank Foreign Exchange market today. It further strengthened to 67.52 before being quoted at 67.64 at 4.40 pm local time.
The local currency hovered in a range of 67.52 and 67.73 in the evening trade.
The rupee had dropped nine paise to close at 67.68 per dollar in yesterday’s trade on sustained demand for the US currency from banks and importers amid sharp fall in equities.
Meanwhile, the benchmark BSE Sensex ended higher by 291.47 points or 1.21 per cent at 24,479.84.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.