Rupee extends gains, up 8 paise against dollar
Forex dealers said increased capital inflows as well as higher opening in the domestic equity supported the rupee
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<a href="http://www.shutterstock.com/pic-111991067/stock-photo-dice-on-rupee-coins-on-indian-currency-notes.html" target="_blank">Rupee</a> image via Shutterstock
Rising for the sixth straight day, the rupee strengthened by 8 paise to 63.32 against the dollar in early trade today at Interbank Foreign Exchange on sustained selling of the American currency by exporters and banks.
Forex dealers said increased capital inflows as well as higher opening in the domestic equity supported the rupee.
They said, however, greenback's strength against other currencies overseas capped the gains.
The rupee had ended higher by 4 paise to 63.40 against the US currency in yesterday's trade following consistent selling of dollar by banks and exporters.
Meanwhile, the benchmark BSE Sensex rose by 122.04 points or 0.43% to 28,330.80 in early trade.
Forex dealers said increased capital inflows as well as higher opening in the domestic equity supported the rupee.
They said, however, greenback's strength against other currencies overseas capped the gains.
The rupee had ended higher by 4 paise to 63.40 against the US currency in yesterday's trade following consistent selling of dollar by banks and exporters.
Meanwhile, the benchmark BSE Sensex rose by 122.04 points or 0.43% to 28,330.80 in early trade.
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First Published: Jul 07 2015 | 9:42 AM IST