Rupee up 11 paise at 64.85 on increased dollar selling

Mumbai, India (BBN) – The rupee advanced by 11 paise to 64.85 against the dollar at the interbank forex market today on increased selling of the US currency by exporters and banks.

A weak dollar against other currencies overseas also supported the rupee’s gains.

According to a forex dealer, a strong domestic equity market also also bolstered the domestic currency, reports The Hindu Business Line.

Yesterday, the rupee had staged a mild recovery after a two-session fall and ended higher by 7 paise at 64.96 against the US currency.

Meanwhile, the benchmark BSE Sensex rebounded by 244.99 points or 0.73 per cent to 33,463.80 in opening trade.