Comments
The rupee was trading strong at 66.53 due to dollar selling by banks and exporters amid sustained foreign fund inflows.
Forex dealers said a strong domestic equity market and a weak dollar against other currencies overseas after last week’s below-par US growth data also supported the rupee.
The domestic unit opened strong by 27 paise at 66.55 at the Interbank Foreign Exchange market today. It hovered in a range of 66.57 and 66.51 before quoting at 66.53, up 29 paise at 4.20 pm local time.
On Friday, the rupee had continued its stellar performance against the US currency for the fourth straight day ending higher by 13 paise at 66.82 due to heavy dollar selling.
Forex market had remained closed yesterday on account of “Ganesh Chaturthi’’.
Meanwhile, the 30-share BSE index Sensex ended higher by 445.91 points or 1.56 per cent at 28,978.02 as tepid US payrolls data last week tempered expectations of a September rate hike by the Federal Reserve.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.