Mumbai, India (BBN) – The rupee rose 20 paise to 65.22 against the dollar today on fresh selling of the US currency by exporters.
The rupee opened at 65.40 and traded between 65.40 and 65.16 in intra-day deals, reports The Hindu Business Line.
Forex dealers said fresh inflow of foreign funds and weakness in the dollar against other currencies overseas supported the rupee.
However, weak domestic equities and a widening trade deficit to almost a three-year high capped the gains.
Yesterday, the rupee had ended flat to close at 65.42 against the US currency due to fag-end demand for the greenback amid ballooning trade deficit.