Rupee maintains upward bias, gains another 15 paise versus dollar in early trade

The rupee continued its upswing on the mint street, with the domestic currency appreciating by another 15 paise to trade at 67.17 against the dollar. Last week, the rupee had strengthened 64 paise or nearly 1 percent to close at 67.32 against the greenback after having declined 71 paise in a single session on 24 June following the Brexit news.

Reuters

Reuters

Continuing with its upward momentum, the rupee appreciation was mainly on account of on increased selling of the US currency by banks and exporters, said dealers.

Dealers said a higher opening in the domestic equity market amid hopes of pick-up in foreign capital inflows and a weakening dollar against other currencies overseas added to the rupee's gains.

On Friday, the rupee had risen 20 paise to settle at 1-1/2 week high of 67.32 on persistent dollar selling amid firm equities.

Meanwhile, the benchmark BSE Sensex rallied 201.10 points, or 0.74 per cent, to 27,346.01 in early trade today.


Updated Date: Jul 04, 2016 11:26 AM

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