The rupee strengthened by 11 paise to 68.57 against the dollar as the US currency softened against China’s yuan and the euro amid sustained foreign fund inflows. Increased selling of the greenback by exporters and banks also supported the rupee.
The domestic unit opened strong by 4 paise at 68.64 at the interbank forex market today. It hovered in a range of 68.68 and 68.57 before quoting at 68.65, up 3 paise at 11.45 am local time.
Yesterday, the rupee had staged an impressive rebound from a two-week low to end higher by 20 paise at 68.68 against the US currency on fresh bouts of dollar selling by exporters and banks.
Meanwhile, the benchmark BSE Sensex was trading higher by 155.94 points or 0.41 per cent at 37,829.94. As per provisional data, foreign portfolio investors had bought shares worth Rs 314.83 crore yesterday.