Mumbai, India (BBN) – Indian rupee was trading strong at 65.25 as the dollar was on the defensive, after Chicago Federal Reserve President Charles Evans reinforced the perception that the US central bank won’t accelerate the pace of its interest rate hikes
The Indian rupee resumed lower by 3 paisa at 65.39 per dollar against Monday’s closing level of 65.36 at the Interbank Foreign Exchange (Forex) market today, reports The Hindu Business Line quoting PTI.
The domestic unit fell further to 65.45 before quoting at 65.25, up 11 paisa at 4.30 pm local time.
The domestic currency hovered in a range of 65.45 and 65.21 per dollar during afternoon deals.
The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1 per cent to 100.30 after falling as low as 100.02 overnight, its lowest since February 7.
The euro gained 0.1 per cent on the day to $1.0754, though it remained shy of last week’s high of $1.0782.
Meanwhile, the benchmark BSE index also closed 33.29 points or 0.1 per cent lower at 29,485.45.