Mumbai, India (BBN) - Indian rupee was trading strong at 66.96 against the US dollar in the evening session on fresh selling of the American currency by exporters and banks.
Besides, foreign fund inflows supported the rupee, but a weak domestic equity market and the dollar’s strength against other currencies overseas capped the gain, forex dealers said, reports The Hindu Business Line.
The domestic unit opened strong at 66.96 against the previous close of 67.02 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.98 and 66.96 before quoting at 66.96, up 6 paisa at 4.40 pm local time.
Meanwhile, the 30-share BSE index Sensex ended down by 12.31 points or 0.04 per cent at 28,339.31.
In the overseas market, the dollar was trading near a three-week high against a basket of currencies on Tuesday, as investors awaited congressional testimony by Federal Reserve Chair Janet Yellen for clues to the pace of the central bank’s interest rate increases.
The dollar index was nearly flat on the day at 100.94, not far from Monday’s high of 101.11, which was its loftiest peak since January 20.
BBN/SK/AD