Rupee strengthens by 17 paise to 64.23 on fresh dollar selling

PTI

The rupee recovered by 15 paise to 64.25 against the dollar in early trade.

Dollar’s losses against other currencies also support rupee

Mumbai, Feb 12

The rupee recovered by 17 paise to 64.23 against the dollar on fresh selling of the US currency by exporters and banks amid strong domestic equities.

Forex dealers said the dollar’s losses against major global currencies overseas after last week’s rally also supported the rupee.

The domestic unit opened strong at 64.25. It hovered in a range of 64.33 and 64.23 before quoting at 64.32, up 8 paise at 4.30 pm local time.

On Friday, the rupee had dropped 14 paise against the greenback to end at a near two-month low of 64.40 on bouts of dollar demand from importers and banks.

Meanwhile, the S&P BSE Sensex surged 294.71 points or 0.87 per cent to 34,300.47 and the Nifty50 climbed 84.8 points or 0.81 per cent to 10,539.75 on positive global cues.

Published on February 12, 2018
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