Mumbai, India (BBN) – The Indian rupee spurted 12 paisa to 64.80 against the US currency due to increase dollar selling by banks and exporters.
According to forex dealers, weakening of dollar against other currencies overseas also supported the rupee, reports The Hindu Business Line.
The dollar touched a two-month low against the yen on Thursday, having tumbled after the minutes of the Federal Reserve’s latest meeting showed some policymakers were concerned about persistently low inflation in a blow to rate hawks.
Yesterday, the rupee had ended marginally lower by 3 paisa at 64.92 against the US currency due to fresh spells of dollar demand from corporates amid global crude oil woes.
Meanwhile, the benchmark BSE Sensex rose 45.15 points or 0.13 per cent to 33,606.70 in early trade.