India rupee at fresh four-week high, up 6 paise to 66.59 against dollar in early trade

By: |
Mumbai | June 09, 2016 10:03 AM

Forex dealers said weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee.

Indian rupee vs US dollarForex dealers said weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee. (Photo: Reuters)

The Indian rupee advanced by 6 paise to trade at a fresh four-week high of 66.59 against the US dollar in early trade on Thursday on sustained selling of the American currency by banks and exporters.

Moreover, weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee at the Interbank Foreign Exchange market, dealers said.

They said, however, a lower opening in the domestic equity market, capped the rupee’s gain.

On Wednesday, the rupee firmed up by 12 paise to close at a four-week high of 66.65 on sustained selling of the American currency by banks and exporters amid persistent foreign capital inflows.

Meanwhile, the benchmark BSE Sensex fell by 90.74 points or 0.33 per cent at 26,929.92 in early trade on Thursday.

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