Forex

Rupee spurts 25 paise to 64.68

Mumbai | Updated on January 08, 2018 Published on October 16, 2017

rupee

The rupee appreciated by another 25 paise to 64.68 against the US currency on dollar selling by banks and exporters.

According to forex dealers, a strong domestic equity market bolstered the rupee sentiment. However, the dollar’s strength against other currencies overseas capped the gains.

The domestic unit opened strong by 19 paise at 64.74 at the interbank foreign exchange market today. It hovered in a range of 64.77 and 64.68 before quoting at 64.74, up 19 paise at 4.35 pm local time.

On Friday, the rupee had gained 15 paise to end at a fresh three-week high of 64.93 on easing macro worries coupled with record-setting domestic equities.

The benchmark BSE Sensex rose 200.95 points to close at an all-time high of 32,633.64 as investor optimism was buoyed by encouraging comments from the IMF chief.

The euro slipped on Monday after posting its biggest weekly rise in a month as traders took profits, though markets were wary of chasing the currency lower before an European Central Bank policy meeting next week. The single currency fell 0.3 per cent to $1.1780 in early trade.

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Published on October 16, 2017
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