Rupee adds to gains, up 5 paise against dollar

Forex dealers said the dollar's weakness against some currencies overseas led to the rupee up move.

By: PTI | Mumbai | Updated: December 2, 2016 12:45 pm
rupee fall, currency movement, US dollar, demonetisation, market, RBI, news, latest news, India news, national news On Thursday, the domestic currency had gained 4 paise to end at one-week high of 68.34 against the dollar. (Source: File)

Extending gains for the fourth session, the rupee appreciated by another 5 paise to 68.29 against the US dollar in early trade on Friday on continued selling of the American currency by banks and exporters. Forex dealers said the dollar’s weakness against some currencies overseas led to the rupee up move.

WATCH VIDEO: New Currency Notes Worth Over Rs 4 Crore Seized In Bengaluru

However, a weak opening in domestic equity market restricted the gains in rupee, they said. On Thursday, the domestic currency had gained 4 paise to end at one-week high of 68.34 against the resurgent dollar following robust macro-economic data even as crude prices jumped after the historic OPEC deal.

Meanwhile, the benchmark BSE Sensex plunged 199.97 points, or 0.75 per cent, to 26,359.95 in early trade.