Indian Rupee jumps to 4-month high of 66.63 on increased US dollar selling

Mumbai, India (BBN) – Continuing with its strong rally, the rupee edged up another 4 paisa to a four-month high of 66.63 against the US dollar in early trade Wednesday on increased selling of the American currency by banks and exporters.
Forex dealers said that besides the dollar’s weakness against other currencies overseas, continued foreign fund inflows and a higher opening in the domestic equity market also supported the rupee momentum, reports The Hindu Business Line quoting PTI.
The rupee had closed at 66.63 on November 10 last year.
The local currency had ended 4 paisa higher at 66.67 yesterday, rising for the second consecutive day.
Meanwhile, the benchmark BSE Sensex rose 22.76 points or 0.07 per cent to 29,022.32 in early trade.
BBN/SK/AD

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