Rupee further strengthens by 27 paise against dollar

The rupee firmed up further by 27 paise to 60.50 against the American currency in the morning trade today on sustained selling of dollars by banks and exporters in view of persistent capital inflows from foreign funds despite higher dollar in overseas market.
The rupee resumed higher at 60.60 per dollar as against yesterday's closing level of 60.77 at the Interbank Foreign Exchange (Forex) Market and advanced further to quote at 60.50 per dollar at 1000 hours.
It moved in a range of 60.50 and 60.60 per dollar during the morning deals.
Banks and exporters continued to sell dollars in view of sustained capital inflows from foreign funds into equity market.

However, the benchmark BSE Sensex eased by 16.45 points, or 0.07 per cent, to 22,039.03 at 1000 hours.
In New York market, the US dollar edged higher against the yen yesterday as traders appeared to shrug off further signs of slowing Chinese growth and tensions over Russia's annexation of the Crimea region.