Hindu Business Line file photo
Mumbai, India (BBN) – The Indian rupee was trading higher at 64.58 on fresh selling of the US currency despite a flat trading in the domestic equity market.
According to forex dealers, a weak dollar overseas also supported the rupee, reports PTI.
The domestic unit opened strong by 3 paise at 64.60 at the Interbank Foreign Exchange market today.
It hovered in a range of 64.62 and 64.50 before quoting at 64.58, up 5 paise at 3 pm local time.
Yesterday, the rupee had lost 11 paise to close at 64.63 on dollar demand from importers as growing geopolitical unrest hastened the flight to safety.
Meanwhile, the benchmark BSE Sensex was trading down by 36.02 points or 0.12 per cent at 29,283.08.
The euro hit a three-week high on Wednesday, benefiting from a dollar weakened by lower US rates and doubts over President Donald Trump's promised fiscal boost, while the prospect of a snap British election kept sterling near a six-month peak.
The dollar index, which measures the greenback against a basket of six other major currencies, hit a three-week low on Tuesday as 10-year Treasury yields fell below 2.2 per cent to their weakest levels since the US election results, and remained close to that level on Wednesday.
BBN/SA/AD