Indian Rupee opens higher at 66.68 against US Dollar


On Wednesday Indian Rupee opened 16 paise superior at 66.68 next to dollar on account of fresh selling of American currency by exports and banks. On Tuesday, rupee ended slightly superior at 66.84 alongside previous close of 66.85 on account of selling of dollar by banks and exports. On Wednesday for now, benchmark indices BSE Sensex and NSE Nifty commenced marginally green. Sensex was up 48.20 points, or 0.17 per cent, at 28133.36.

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Nifty was up 8.45 points at 8,686.70. On Tuesday foreign institutional investors remained net buyers in Indian equity markets as they bought shares worth of Rs 1171.73 crore. According to market specialists, carry on inflows by foreign institutional investors are supporting rupee. At 10.03 am, the local currency was buying and selling nearly 14 paise higher at 66.71 next to dollar in early trade. The RBI left its key policy rate unchanged on Tuesday taking cognisance of the recent rise in inflation which puts the consumer price index uncomfortably close to the upper tolerance threshold of 6% as mandated by the government.

The cash reserve ratio (CRR) was also kept unchanged at 4%. Asian currencies gained. South Korean won was up 0.86%, Taiwan dollar 0.74%, Japanese yen 0.53%, Japanese yen 0.5%, Thai baht 0.32%, Singapore dollar 0.22%, Philippines peso 0.18%, China offshore 0.13%, China renminbi 0.13% and Indonesian rupiah 0.08%.

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