Mumbai, India (BBN) – The rupee is trading strong at 67.90 on fresh selling of the American currency by exporters and banks amid a firm domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, dollar’s weakness against other currencies overseas supported the rupee, reports The Hindu Business Line.
Further, a firm domestic equity market influenced the rupee uptrend, they added
The domestic unit recovered by 9 paisa to 67.94 against the US dollar in the opening trade at the Interbank Foreign Exchange market today.
It hovered in a range of 67.96 and 67.88 before quoting at 67.90, up 13 paisa at 10:50am local time.
Yesterday, the rupee fell 16 paisa to hit a two0week low of 68.03 against the American currency, following a sudden rise in the dollar’s value against other global currencies.
Meanwhile, the benchmark BSE Sensex was trading higher by 65.33 points or 0.25 per cent at 26,373.31.