Indian rupee Vs US dollar today: Rupee overcomes Sensex, Nifty losses; here's why
Indian Rupee was trading at 64.765 above 0.056 points or 0.09% against US dollar.
Indian rupee Vs US dollar today: Rupee witnessed a surge in its value against US benchmark dollar index. On Wednesday, when trading session began, the domestic currency recovered by 7 paise to 64.90 against the US dollar at the forex market on increased selling of the greenback by exporters amid foreign fund inflows. Since past four trading session, Indian rupee has been trading near 64-mark against US dollar, compared to last week where the domestic unit stood near five-month high against american unit.
At around 1010 hours, Indian rupee was trading at 64.935 above 0.030 points or 0.06% against US dollar.
A lower opening of the domestic equity market weighed on the domestic currency, but dollar's weakness against other currencies limited the losses, forex dealers said in a PTI report.
As per a Reuters report, In the currency market, the dollar changed hands at 105.51 yen, not far from Monday`s 16-1/2-month low of 104.56, as the Japanese currency was supported by the risk-averse mood.
The rupee lost 10 paise and slipped to 64.97 against the US currency on Tuesday, cutting short its three-day upmove on bouts of dollar buying by banks and exporters.
Foreign funds on net basis, purchased shares worth Rs 1,063.12 crore, while domestic institutional investors made purchases to the tune of Rs 2,172.91 crore on the bourses yesterday, provisional data showed.
Meanwhile, the benchmark BSE Sensex dropped even more further, and was trading at 32,958.49 down by 212.51 points or 0.64% at around 1010 hours, however, in early trade, the benchmark fell by 164.52 points, or 0.49 per cent, to 33,009.87. Investors also made profit booking in Nifty 50, which was trading at 10,119.80 below 64.35 points or 0.63%.