Indian rupee up 40 paise against US dollar at 63.21

By: |
December 18, 2014 9:59 AM

The Indian rupee had lost 8 paise to close at 63.61 against the US dollar on Wednesday due to persistent capital outflows.

The rupee strengthened by 40 paise to 63.21 against the dollar in early trade. (Reuters)The rupee strengthened by 40 paise to 63.21 against the dollar in early trade. (Reuters)

After three sessions of weakness, the rupee strengthened by 40 paise to 63.21 against the dollar in early trade today at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

Forex dealers said besides selling of the American currency by exporters, gains in other currencies against the dollar overseas after the US Federal Reserve indicated interest rates would be hiked by mid-2015 and a rebound in the domestic stock market, supported the rupee.

Yesterday, the rupee had lost 8 paise to close at 63.61 against the dollar due to persistent capital outflows.

Meanwhile, the benchmark BSE Sensex regained the 27,000-mark by surging 395.67 points, or 1.48 per cent, to 27,105.80 in opening trade today.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1After 6 years, we are in for fresh start, says Partha Pratim Sengupta, MD & CEO of Indian Overseas Bank| INTERVIEW
2IndusInd Bank Q2 profit up 72% on higher income, lower provisions
3We want to be cautious about entering the credit business: Rishi Gupta, MD & CEO, Fino Payments Bank