Rupee strengthens to 63.46 on sustained dollar selling

| Updated on: Jan 12, 2018
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The rupee strengthened to 63.46 against the greenback in the afternoon deals on sustained bouts of dollar selling from banks and importers banks amid firm domestic equities and subdued dollar overseas.

The domestic opened strong at 63.58 per dollar against yesterday’s closing level of 63.66 at the Interbank Foreign Exchange market today. It hovered in a range of 63.60 and 63.46 before quoting at 63.53, up 1 paise at 12.05 pm local time.

“A weak dollar overseas is aiding the rupee,” a dealer said. The US dollar slumped against its major rivals in early Asian trade due to weak factory inflation data, while the euro strengthened after the European Central Bank hinted that it could trim its monetary stimulus programme.

Meanwhile, the benchmark BSE Sensex was trading up by 99.22 points or 0.29 per cent at 34,602.71.

Published on January 16, 2018

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