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Rupee gains 6 paise against dollar in early trade

The weak dollar due to expectations that the US Fed will keep benchmark interest rates low for longer also supported the rupee at the Interbank Foreign Exchange market.

By: PTI | Mumbai |
June 9, 2016 9:53:48 am
Indian rupee, rupee news, rupee today, exchange rate, exchange rate news, Bombay Stock Exchange, Sensex, closing Sensex, Sensex today, Today Sensex, Today Markets, Markets today, Markets, Asia markets, India markets, BSE, NSE, Nifty, Business news, Stock price today, Stock prices, Markets live, Market news, FMCG, Japan, China, Hang Seng, Nikkei, Shanghai, Shanghai Composite Index, Dow Jones The rupee extends gains and advanced by 6 paise to trade at a fresh four-week high of 66.59 against the US dollar.

The rupee advanced by 6 paise to trade at a fresh four-week high of 66.59 against the US dollar in early trade on June 9 on sustained selling of the American currency by banks and exporters.

Moreover, weakness in dollar against other currencies overseas on expectations that the US Federal Reserve will keep benchmark interest rates low for longer also supported the rupee at the Interbank Foreign Exchange market, dealers said.

They said, however, a lower opening in the domestic equity market, capped the rupee’s gain.

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On June 8, the rupee firmed up by 12 paise to close at a four-week high of 66.65 on sustained selling of the American currency by banks and exporters amid persistent foreign capital inflows.

Meanwhile, the benchmark BSE Sensex fell by 90.74 points or 0.33 per cent at 26,929.92 in early trade on June 9.

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