Comments
The rupee was trading strong by 8 paise at 62.09 in the evening trade on persistent bouts of dollar selling from banks and exporters amid bearish US currency overseas.
The Indian currency resumed higher at 62.15 against yesterday’s close of 62.17 at the Interbank Foreign Exchange (Forex) market here.
It strengthened further to Rs 61.91 before quoting at 61.98 at 12.45 pm local time.
The local currency hovered in a range of 62.14-61.91 per dollar during the afternoon trade.
Rebound in domestic equities and selling by banks supported the rupee, a dealer said.
In the New York market, the US dollar was lower against its major rivals in early trade as the currency faded somewhat after a payrolls-inspired rally ran out of steam.
Meanwhile, the benchmark BSE index ended higher by 128.23 points or 0.45 per cent at 28,355.62.
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.