Rupee gains 35 paise against dollar in early trade
Strong selling of the US currency by exporters amid sustained capital inflows helped the rupee
)
<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
The rupee strengthened by 35 paise to 61.35 against the dollar in early trade today at the Interbank Foreign Exchange on strong selling of the US currency by exporters amid sustained capital inflows.
Forex dealers said besides selling of the American currency by exporters, continued overseas capital inflows and soaring domestic equity markets supported the rupee.
They said, however, euro sinking to its lowest level in more than a decade against the US dollar after the ECB announced stimulus programme capped the rupee's gains.
The Indian rupee had lost seven paise against the dollar at 61.70 in yesterday's trade due to fresh demand for the US currency from banks and importers.
Meanwhile, the benchmark BSE Sensex rose sharply by 383.16 points, or 1.31%, to hit yet another record high of 29,389.18 in opening trade.
Forex dealers said besides selling of the American currency by exporters, continued overseas capital inflows and soaring domestic equity markets supported the rupee.
They said, however, euro sinking to its lowest level in more than a decade against the US dollar after the ECB announced stimulus programme capped the rupee's gains.
The Indian rupee had lost seven paise against the dollar at 61.70 in yesterday's trade due to fresh demand for the US currency from banks and importers.
Meanwhile, the benchmark BSE Sensex rose sharply by 383.16 points, or 1.31%, to hit yet another record high of 29,389.18 in opening trade.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jan 23 2015 | 9:50 AM IST