Indian rupee up 34 paise to 61.41 against US dollar after sharp decline in India's CAD

Written by PTI | Mumbai | Updated: Mar 7 2014, 00:07am hrs
Indian rupeeMeanwhile, the benchmark BSE Sensex rose by 89.44 points, or 0.42 per cent, to 21,366.30 in early trade today. (Reuters)
The rupee gained 34 paise to 61.41 against the US dollar in late morning deals today on sustained selling of the American currency by banks and exporters amid firm local equity market.

The rupee resumed higher at 61.51 per dollar as against the last closing level of 61.75 at the Interbank Foreign Exchange market. It surged further to 61.40 on good dollar selling before quoting at 61.41 at 1045 hours.

It hovered in a range of 61.40 and 61.54 per dollar during the morning deals.

In New York, the dollar gave up most of its earlier gains against the major rivals late yesterday as investors weighed weak US economic data.

Meanwhile, the benchmark Sensex rallied 99.11 points or 0.47 per cent to 21,375.97 at 1045 hours.