Indian rupee up 36 paise against US dollar on greenback's weakness overseas

Jan 13 2014, 14:51 IST
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A strong opening in the domestic equity market and dollar's weakness against currencies overseas supports the rupee. A strong opening in the domestic equity market and dollar's weakness against currencies overseas supports the rupee.
SummaryThe Indian rupee had gained 17 paise to end at this year's best closing level on Friday.

In line with the domestic equity market, the Indian rupee today firmed up by 36 paise to 61.54 against the US dollar in late morning deals on fresh selling of the American currency by banks and exporters, triggered by weakness in the greenback overseas.

The Indian rupee resumed higher at 61.52 per dollar as against the last weekend's level of 61.90 at the Interbank Foreign Exchange market, and hovered in a range of 61.52-61.63 before quoting at 61.54 at 1045 hours.

Bankers and exporters preferred to reduce their dollar position in view of weaker US currency in the overseas market, a forex dealer said.

In the global market, the US dollar dropped in early trade, keying off losses last week which ended with investors learning that the US labour market grew at a markedly slower pace than anticipated.

Meanwhile, the BSE Sensex rose by 259.78 points, or 1.25 per cent, to 21,018.47 at 1045 hours.

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