Rupee gains further against dollar in early trade
By PTI |
MUMBAI: The rupee on Monday appreciated further against the US currency during early trade in dull trade at the Interbank Foreign Exchange (Forex) market here.
The Indian unit opened firm at Rs 45.9650/9750 per dollar against last Friday’s closes of Rs 46.0450/0525 a dollar and later strengthened further to Rs 45.94/95 per dollar in late morning deals.
The rupee derived strength from dollar's weakness against major currencies in global markets following Thursday's Federal Reserve statement, which was viewed by the market as suggesting a pause in interest rate hikes.
The activity was dull and listless due to incessant heavy rains for the third successive day in the metropolis, forex dealers said.
The rupee is expected to remain range-bound during the day in tight market, a leading forex dealer commented.
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