Rupee strengthens against dollar in early trade
Buoyed by soaring equity markets and heavy FII inflows, the rupee on Monday strengthened further against the US currency in early trade on sustained dollar sales by exporters amid firm overseas.
By PTI |
MUMBAI: Buoyed by soaring equity markets and heavy FII inflows, the rupee on Monday strengthened further against the US currency in early trade on sustained dollar sales by exporters amid firm overseas.
In quiet trade at the interbank foreign exchange (forex) market, the Indian unit resumed steady at Rs 45.45/47 per dollar from last weekend's close of Rs 45.44/45 a dollar and later improved to Rs 43.50/44.50 per greenback in later morning deals.
The rupee touched a high of 45.42 in early trade due to some dollar sales from exporters, a forex dealer said.
The domestic unit was spurred by rising stock markets, where the benchmark Sensex spurted to a new peak in morning trade, forex dealers said.
Rupee also drew support from increased dollar inflows into equity markets, they added.
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