Rupee continues to trade strong in afternoon trades

At 12:20 pm, rupee was trading at Rs 61.42 compared with previous close of Rs 61.59 a dolalr

The rupee was trading strong in afternoon trades due to dollar sale by banks.

 

There are also positive sentiments on the street due to comfort driven by the fact that the Reserve Bank of India (RBI) received $ 10 billion under its forex swap window.

 

At 12:20 pm the rupee was trading at Rs 61.42 compared with previous close of Rs 61.59 per dollar.

 

But there is month-end dollar demand in the market from importers which may result in weakening of the rupee later during the day.