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Rupee up by 14 paise against dollar

Rupee gained 17 paise against US dollar in late afternoon trade on Thursday at the Inter-bank Foreign Exchange market on increased selling of US currency by exporters and banks.

Policy Pulse
Publish Date: Mar 10 2016 4:59PM | Updated Date: Mar 10 2016 6:21PM

Rupee up by 14 paise against dollar

Rupee ended higher against US dollar for second successive day, rising by another 14 paise to close at 67.07 per dollar on sustained selling of dollars by banks and exporters due to good foreign capital inflows into equity market.

 

Indian currency resumed marginally lower at 67.24 per dollar against Wednesday's closing level of 67.21 at the Forex market and dipped further to 67.27 on initial dollar demand from banks and importers.

 

It recovered afterwards to 66.9825 per dollar on fag-end selling of dollars by banks and exporters before finishing at 67.07 per dollar, showing a gain of 14 paise or 0.21 per cent.

 

In two days, it has gained by 28 paise or 0.42 per cent.

 

Domestic currency drifted in a range of 66.9825 and 67.27 per dollar during the day.

 

Dollar index was up 0.16 per cent against a basket of six currencies in the late afternoon trade.

 

In the meantime, Indian benchmark sensex dropped by 170.62 points or 0.69 per cent to close at 24,623.34. Nifty also dipped by 45.65 points or 0.61 percent., to close at 7,486.15 points.