Mumbai, India (BBN) – The Indian rupee advanced 9 paisa against the US dollar to breach the 65 level at 64.95 — a fresh 17-month high — in early session Wednesday on increased liquidation of the American currency by exporters and banks.
A higher stock market opening and continued foreign inflows made the going easy for the rupee, reports The Hindu Business Line quoting PTI.
However, the dollar’s recovery against some currencies overseas restricted the rupee upmove.
On Monday, scripting its second—biggest single—day gain this year, the rupee had zoomed 37 paisa to close at a 17—month high of 65.04.
Forex and money markets were closed yesterday for ‘Gudi Padwa’.
The benchmark BSE Sensex rose further by 84.92 points, or 0.28 per cent, to 29,494.44 in early trade.