Mumbai, India (BBN) – Indian rupee was trading strong at 66.71 on sustained selling of the US currency by exporters and banks amid a strong domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, the dollar’s weakness against other currencies overseas propped up the Indian rupee, reports The Hindu Business Line quoting PTI.
Further, a strong domestic equity market supported the rupee sentiment, they added.
The domestic unit opened strong by 6 paisa at 66.75 at the Interbank Foreign Exchange market today.
It hovered in a range of 66.76 and 66.69 before quoting at 66.71, up 10 paisa.
On Friday, the Indian rupee had lost 11 paisa to 66.81 against the US dollar on fresh demand for the American greenback from banks and importers.
Meanwhile, the benchmark BSE Sensex ended higher by 215.74 points or 0.75 per cent at 29,048.19.