Mumbai, India (BBN)-Indian rupee was trading strong at 68.14 in the evening deals on increased dollar by banks and exporters.
Dealers said fresh selling of the American unit and the dollar’s weakness against other currencies overseas, barring yen, boosted the rupee sentiment, reports PTI.
The domestic unit opened higher by 8 paise at 68.25 at the Interbank Foreign Exchange market today.
It hovered in a range of 68.26 and 68.08 before quoting at 68.14, up 19 paise at 4.10 pm local time.
Yesterday, the rupee had lost 11 paise to close at a fresh one-month low of 68.33 against the American currency on heavy dollar demand from corporates and importers.
Meanwhile, the 30-share BSE index Sensex closed lower by 10.11 points or 0.04 per cent at 26,633.13.
The dollar edged down from a 14-year high against a basket of currencies on Wednesday, with investors cautious about increasing bets on the greenback before getting fresh clues on the US economy and timing of intrest rate rises.
The greenback surged to its highest levels since late 2002 on Tuesday after US manufacturing data beat expectations, onceagain threatening to reach parity with the euro, which fell to a 14-year low of $1.0340.
BBN/SK/AD