Rupee good run continues, gains 3 paise against dollar

Forex dealers said that besides persistent selling of the American currency by exporters and banks, the dollar's weakness against peers overseas supported the rupee.

By: PTI | Mumbai | Published: September 29, 2016 10:26 am
rupee, rupee value, rupee india, rupee deprciation, rupee value, rupee market value, Rupee, US Dollar, sensex, marjket, BSE, Forex, macro economics, currency value, Rupee value, foreign exchange market, economy, business and finance, business news Forex dealers said that besides persistent selling of the American currency by exporters and banks, the dollar’s weakness against peers overseas supported the rupee.

Continuing its good run for the sixth day at a stretch, the rupee appreciated by 3 paise to 66.43 against the US dollar in early trade on Thursday at the Interbank Foreign Exchange on continued selling of the greenback by exporters and banks amidst higher opening in the domestic equity market.

Forex dealers said that besides persistent selling of the American currency by exporters and banks, the dollar’s weakness against peers overseas supported the rupee. Most of the Asian currencies were trading higher today.

The Organisation of Export Producing Countries (OPEC), at its meeting in Algiers yesterday, had agreed to cap oil production for the first time since 2008, amid pressure from declining oil prices. OPEC leader Saudi Arabia also softened its stance against rival Iran which lifted global sentiments.

On Wednesday, the rupee had gained four paise to close at 66.46. Meanwhile, the benchmark BSE Sensex rose 181.31 points, or 0.64 per cent, to 28,474.12 points in early trade today.

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