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Continuing its rising streak for the seventh straight session, the rupee was trading strong by 4 paise at 62.23 on sustained dollar selling by exporters.
The domestic rose 9 paise to 62.18 against the dollar in early trade at the Interbank Foreign Exchange market today. It further strengthened to 62.14 before being quoted at 62.23 at 4.40 p.m. local time.
The rupee hovered in the range of 62.14 and 62.25 in the afternoon trade.
Forex dealers said besides selling of the American currency by exporters and banks, dollar’s weakness against other currencies overseas also supported the rupee.
The rupee had strengthened by 19 paise against US dollar to end at 62.27 in yesterday’s trade.
Meanwhile, the benchmark BSE Sensex ended the session lower by 30.3 points or 0.11 per cent at 28,161.72.
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