The domestic unit had surged by 57 paise on Monday to close at an over seven-month high of 68.53 against the US dollar, also marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit.
The rupee edged 2 paise higher to 68.51 against the US dollar in early trade on Tuesday ahead of the Federal Reserve's policy meet. Besides the greenback's weakness against some currencies overseas, increased selling of the American currency by exporters as well as banks supported the rupee, forex dealers said.
The currency's movement was influenced by a higher opening in the domestic equity market. The domestic unit had surged by 57 paise on Monday to close at an over seven-month high of 68.53 against the US dollar, also marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit. According to provisional data, domestic institutional investors (DIIs) sold shares worth Rs 1,269 crore Monday, while foreign portfolio investors (FPIs) bought shares worth Rs 1,823 crore.
Twitterati could not contain the excitement and shared their happiness on the social media platform.
The #Rupee today opened higher for the 7th consecutive session against the US dollar.The rupee opened at 68.59 a dollar, so far this year, the rupee has gained 1.8%.
— à¤à¥à¤à¥à¤¦à¤¾à¤° Totlani Krishan (@kktotlani) March 19, 2019
#Rupee opens flat at 68.55 per dollar
— Epic Research (@Epic_Research) March 19, 2019
The #Indian rupee opened flat at 68.55 per #dollar on #Tuesday against previous close 68.53.#BankNifty #StockMarket #StockMarketNews #ShareMarket #HoliWithEpicResearch #Happyholi #Holi2019
Visit: https://t.co/1mG7WG3Lwe pic.twitter.com/PCTxIJW6Wu
Indian #Rupee yesterday surged by 57 paise to close at an over seven month high of 68.53 against US dollar.#ChowkidarPhirSe @narendramodi @tathagata2 pic.twitter.com/z5KxLSVNGO
— Chowkidar Jaswant Singh (@JasBJP) March 19, 2019
#Rupee ends at 68.53/$; highest level against Dollar since August 1, 2018 & biggest single-session gain against Dollar since December 20, 2018 pic.twitter.com/dg4E7NNrrV
— Stocks Picker (@anandchokshi19) March 18, 2019
Indian #Rupee in best position since few months !! pic.twitter.com/qYNQdViWoP
— Gaurav's (@garodia5591) March 15, 2019
Netizens celebrate the hike of the Indian currency against the US dollar since August 2018.
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Edited by mid-day online desk with inputs from PTI