Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas as traders await the conclusion of the Federal Reserve's policy meeting bolstered the rupee.
Mumbai: The rupee strengthened by 8 paise to 64.25 against the dollar in opening trade on Wednesday at the forex market on fresh selling of the US currency by exporters and banks.
Forex dealers said that besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas as traders await the conclusion of the Federal Reserve's policy meeting bolstered the rupee.
On Tuesday, the rupee had lost 20 paise to nearly two- month low of 64.33 a dollar on sustained demand for the American currency from importers amid higher greenback overseas.
Meanwhile, the benchmark BSE Sensex rose by 93.02 points, or 0.28 per cent, at 32,495.39 in early trade on Wednesday.
Comments
0 comment