Indian rupee at 10-month high, up 22 paise against US dollar

Written by PTI | Mumbai | Updated: May 15 2014, 15:41pm hrs
Rupee tradingForex market remained closed on Wednesday for 'Buddha Purnima'. Rupee had closed at 59.68 against the dollar on Tuesday.
The rupee appreciated by 22 paise to trade at almost 10-month high of 59.46 against the US dollar in early trade today at the Interbank Foreign Exchange market on continued foreign capital inflows after exit polls projected NDA will form the next government at the Centre.

Besides, increased dollar selling by exporters and a higher opening in the domestic equity market and strengthening of other currencies against the American currency overseas also supported the rupee.

The rupee had surged 37 paise to end at a nine-month high of 59.68 against the dollar on Tuesday. Forex market remained closed yesterday for "Buddha Purnima".

Meanwhile, the benchmark BSE Sensex recovered by 151.78 points, or 0.64 per cent, to 23,966.90 in early trade today.