Mumbai, India (BBN)-The rupee was trading strong at 66.74 due to increased selling of American currency by exporters and banks and a firm domestic equity market.
According to dealers, five per cent growth recorded by infrastructure sector in September, the highest in three months, supported the uptrend, reports The Hindu.
Besides, a firm domestic equity market also supported the local currency, they said.
The domestic unit opened strong by 9 paise at 66.70 against the previous close of 66.79 at the Interbank Foreign Exchange market on Tuesday.
It hovered in a range of 66.75 and 66.67 before quoting at 66.74, up 5 paise at 2:40pm local time.
Meanwhile, the benchmark BSE index Sensex was trading up by 11.15 points or 0.04 per cent at 27,941.36.
In the overseas market, the dollar edged higher as the final days of the contentious US presidential campaign overshadowed other major market events, as investors weighed the latest concerns about an FBI investigation into Hillary Clinton’s use of a private e-mail server.
Forex market had remained closed yesterday on account of “Diwali Balipratipada’’.