The Indian rupee advanced by another 5 paise to Rs 44.44 per US dollar in early trade today on persistent selling of the American currency by banks in view of dollar weakness overseas.
The rupee resumed higher at Rs 44.45/46 per dollar on the Interbank Foreign Exchange as against its previous close of Rs 44.49/50 per dollar and moved up further to Rs 44.44 per dollar before quoting at Rs 44.46/47 per dollar at 1030 hours.
The domestic currency hovered in a restricted range between Rs 44.44 and Rs 44.48 per dollar in morning trade.
Banks and exporters preferred to sell dollars at this level in view of the fall of the dollar in overseas market, a forex dealer said.
In the New York, the US Dollar lost ground against most of its rivals yesterday as appetite for risky assets revived, partly on hopes that European officials will make progress in containing the region's debt crisis.
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