The rupee today gained 21 paise at 45.40 against the dollar in late morning trade on persistent selling of dollars by banks due to the American currency's weakness in the global market and on hopes of more capital inflow into equity markets.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the local unit opened higher at 45.45/46 per dollar, against yesterday's closing level of 45.61/62. It then moved up further to quote at 45.44/45 per dollar at 1030 hours.
Rupee was later trading in the range of 45.50-45.40.
Forex dealers mainly attributed the rise in the rupee value to recovery in Indian equities.
The Bombay Stock Exchange benchmark Sensex today firmed up by over 100 points from yesterday's close.
In New York, the dollar remained low against most of its big rivals.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app