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Rupee rallies 25 paise against dollar

Rupee vs dollar

Mumbai:  The rupee appreciated 25 paise to trade at 63.87 against the dollar in early trade today at the Interbank Foreign Exchange after the American currency weakened overseas amid sustained selling of the greenback by exporters and banks.

Forex dealers said the dollar’s weakness against euro and other currencies overseas after the Fed disappointed some who had hoped for a clearer signal on the timing of an interest rate increase supported the rupee.

The US Fed kept its near-zero benchmark interest rate unchanged.

Furthermore, a higher opening of the domestic equity market influenced the uptrend in the rupee, they added.

The rupee had closed 14 paise higher at 64.12 against the dollar yesterday on fresh selling of the greenback by exporters amid weakness of the American currency in overseas markets.

Meanwhile, the benchmark BSE Sensex regained the 27,000-mark by surging 200.65 points or, 0.75 per cent, to 27,033.31 in early trade today.

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