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Rupee firms up 36 points at 59.83 vs dollar in late morning deals

The rupee had strengthened by 53 paise to close at Rs 60.19 per dollar yesterday after current account gap moderated sharply.

Mumbai: In line with equity market, the rupee advanced further by 36 paise to 59.83 per dollar in late morning trade today on persistent selling of the US currency by banks and exporters.

The rupee resumed higher at 59.95 per dollar as against the last closing level of 60.19 at the Interbank Foreign Exchange (Forex) Market.

It firmed up further to 59.76 per dollar before quoting 59.83 per dollar at 1040 hours.

It moved in a range of 59.76 and 59.95 per dollar during the morning deals.

Persistent selling of dollars by banks and exporters on hopes of capital inflows from foreign funds into equity market mainly boosted the rupee value, a forex dealer said.

Meanwhile, the Indian benchmark BSE-30 share index, Sensex, rose by 326 points or 1.73 per cent to 19,201.94 at 1050 hours.

In New York, the US dollar rose against the Japanese yen today but was lower overall, heading towards a loss for the month.

Crude oil prices rose in Asian trade today after a brief dip as dealers digested upbeat US economic data and comments from a Federal Reserve official that its stimulus programme will not end soon, analysts said.


From Zee News

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