Rupee appreciates by 12 paise against dollar

The local currency received a shot in the arm after stocks started the day on a positive note.

By: PTI | Mumbai | Published:October 18, 2016 10:30 am
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The rupee appreciated 12 paise to 66.76 against the US dollar on Tuesday, propped up by fresh selling of the American currency by exporters and banks amid a higher opening in the domestic stock market. According to dealers, weakness in the dollar against other currencies overseas on unexpected fall in a US manufacturing index made the rupee stronger.

The local currency received a shot in the arm after stocks started the day on a positive note. On Monday, the rupee had ended lower by 17 paise at 66.88 due to heavy dollar demand from importers and corporates. Meanwhile, the benchmark BSE Sensex rebounded 207.64 points, or 0.75 per cent, at 27,737.61 in early trade today.

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