Rupee moves up against dollar in morning trade

PTI

The rupee gained 4 paise to 66.67 against the dollar in early trade today at the Forex market on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.

At about 10 am, the rupee was quoting at 66.69 after trading between 66.72 and 66.67 in early deals.

Forex dealers said that besides selling of the American currency by exporters and banks, weakness of the dollar against other currencies overseas also supported the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

Yesterday, the rupee closed flat at 66.71 against the dollar as cautious traders avoided taking any position ahead of the exit polls outcome and concerns over an impending Fed rate hike next week.

(This article was published on March 10, 2017)
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