Rupee firms up for second day, up 3 paise to 66.90

MUMBAI: The rupee extended its gains for the second straight day by moving up another 3 paise to close at 66.90 per dollar on sustained selling of the US currency by banks and exporters despite higher greenback overseas.

The rupee resumed slightly higher at 66.92 per dollar as against the yesterday's closing level of 66.93 at the Interbank Foreign Exchange market and moved in a restricted range of 66.88 and 66.95 before finishing at 66.90, showing a gain of 3 paise or 0.04 per cent.

The domestic currency gained 12 paise, or 0.18 per cent, in two days.

The dollar index was trading higher by 0.23 per cent against a basket of six currencies in late afternoon trade.

In the overseas market, the dollar was flat against the yen and euro in the late afternoon trade on Wednesday, after rising on hopes for higher US interest rates following comments from Federal Reserve Chairwoman Janet Yellen who signaled an increase could come in March.

However, the US dollar held gains near a 3-1/2-week high against basket of currencies in early Asian trade.

Global investors plowed back into Asian equities today following a bullish session in the US overnight, after Federal Reserve Chairwoman Janet Yellen sounded upbeat during testimony on Capitol Hill.