Mumbai, India (BBN) – Indian rupee gained 12 paisa to trade at Rs 67.19 against the US dollar in late morning trade following sustained bouts of dollar selling by banks and exporters on the back of firm domestic equity market.
Earlier, the rupee opened higher by 10 paisa at 67.21 as against Friday’s closing level of 67.31 per US dollar at the Interbank Foreign Exchange (Forex) Market, reports The Hindu business Line quoting PTI.
The domestic unit hovered between 67.23 and 67.18 per dollar during morning deals before quoting at 67.19 per US dollar at 10:30am (local time).
Overseas, the US dollar started the week on the back foot after US data showed a smaller—than—expected rise in wages in January that reinforced expectations the Federal Reserve will refrain from raising interest rates next month.