Indian rupee gains 8 paise against US dollar on foreign capital inflows

Written by PTI | Mumbai | Updated: Oct 31 2014, 15:48pm hrs
Indian rupeeThe rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in yesterday's trade. Reuters
Snapping its four-day falling streak, the rupee rose by eight paise to 61.37 against the US dollar in early trade today on sustained foreign capital inflows amidst a higher opening in the domestic equity market.

Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar's firmness against other currencies overseas capped the gains, dealers said.

Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added.

The rupee depreciated by 10 paise to close at two-week low of 61.45 against the Greenback in yesterday's trade after the US Federal Reserve kept in place its plans to maintain record low interest rate for some more time.

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Meanwhile, the benchmark BSE Sensex rose 147.26 points, or 0.53 per cent, to hit new lifetime high of 27,493.59 in opening trade.