Rupee Gains 7 Paise Against US Dollar
Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against some currencies overseas supported the rupee.
A street side restaurant owner holds a bundle of Indian currency notes in New Delhi. (Reuters)
Mumbai: The rupee appreciated 7 paise to 66.82 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks amid higher opening in the domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against some currencies overseas supported the rupee. Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.
On Wednesday, the rupee closed 3 paise higher at 66.89 on easing fears of an imminent US Fed rate hike amid softer overseas sentiment.
Meanwhile, the benchmark BSE Sensex rose by 60.51 points or 0.21 per cent at 28,432.74 in early trade on Thursday.
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