Indian Rupee gains 14 paise against US Dollar


Mumbai: Indian rupee continues to increase for the second day. On Thursday rupee climbed up an additional 14 paise to shut at a fresh one-month high of 66.91 on unrelenting selling of the American currency by banks and exporters in view of firm equities, amid flaw of the dollar in abroad markets. A forex dealer conveyed that, strong foreign capital inflow also boosted the rupee value alongside the dollar. The rupee commenced superior at 67 next to the previous concluding level of 67.05 at the Interbank Foreign Exchange (Forex) market and firmed up further to 66.87 previous to concluding at 66.91, showing a gain of 0.21 per cent. The household currency has increased 27 paise or 0.40 per cent in two days. Domestic stock markets were buying and selling flat on Thursday tracking worldwide cues. At 9.15 am, Sensex was buying and selling 1.07 points up at 27,816.25, while NSE Nifty was trading 4.15 points down at 8,515.35.

On Wednesday, the Indian rupee had appreciated by 13 paise to 67.05 against the dollar. Previous, dollar’s presentation next to major currencies also helped rupee gain. On Thursday the yuan showed marginal change next to the dollar, as China’s central bank was suspected of intervening in the market to smoothen strong dollar demand ahead of GDP data this week. The spot yuan opened at 6.6890 per dollar and was changing hands at 6.6880 at midday, flat from the preceding close. The Indian currency commenced 4 paise up to 67.01 next to the US dollar at forex markets. The pound sterling ended higher at Rs 89.51/53 per pound at shut of the Interbank Foreign Exchange.