Mumbai, India (BBN)-The rupee was trading strong by 18 paise at 63.64 in the afternoon session on continued dollar selling by banks and exporters amid firm domestic equity market.
The rupee opened strong by 17 paise to 63.65 against the dollar in early trade at the Interbank Foreign Exchange today on fresh selling of the US currency by exporters and banks amid a higher opening in the equity market, reports PTI.
The domestic unit further strengthened to 63.62 before being quoted at 63.64 at 2.05 pm local time. It hovered in the range of 63.62 and 63.82 in the afternoon trade.
Forex dealers said besides selling of the American currency by exporters and banks, dollar’s weakness against other currencies overseas supported the rupee.
The domestic currency had lost 15 paise to close at 63.82 against the dollar in yesterday’s trade on fresh demand for the greenback from importers amid a firm American currency in the overseas market.
Meanwhile, the benchmark BSE Sensex was trading up by 13.81 points or 0.05 per cent at 27,851.02.