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The rupee surged to a three-week high of 66.42 against the American currency after the Federal Reserve’s historic episode of monetary tightening measures triggered panic dollar selling. A spectacular rally in domestic equities supported the sentiment. The domestic unit opened firmly higher at 66.62 from Wednesday’s close of 66.73 at the Interbank
Foreign Exchange Market and continued its upmove to end with a gain of 31 paise.
The rupee appreciated by 13 paise at 66.60 against the US dollar in early trade today on increased selling of the American currency by exporters even as the US Federal Reserve raised interest rates for the first time in nearly a decade.
Rupee holds fort. Stays at 66.65 against the dollar after Fed rate hike- Shows market's confidence on India
— Rajalakshmi Nirmal (@crajalakshmic)
December 17, 2015It hovered in a range of 66.67 and 66.47, before being quoted at 66.48 at 4.15 pm local time.
The rupee had jumped by 19 paise to close at a one-week high of 66.73 against the US dollar yesterday amid rising equities.
Meanwhile, the benchmark BSE Sensex ended higher by 309.41 points or 1.21 per cent to 25,803.78.
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