Indian rupee Vs dollar today: Rupee strengthens on uptick in Sensex, Nifty
Indian Rupee was trading at 64.926 up 0.020 points or 0.03% against US dollar.
The Indian rupee strengthened against US benchmark dollar index on Monday forex market, however, it needs to be noted that the currency was trading below 65-mark for fifth consecutive day. In earlu trade, the rupee strengthened by 12 paise to 64.85 against the US dollar on fresh selling of the greenback by banks and exporters.
At around 1122 hours, Indian Rupee was mostly subdued in comparison with previous prices, as it traded at 64.935-mark up by 0.015 points or 0.02%
The domestic unit had ended flat at 64.97 against the US dollar on Friday, as local equities consolidated their recovery momentum.
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Forex dealers for Monday trading in a PTI report said, "Besides, a higher opening of the domestic equity market and weakness in the dollar against other global currencies, following data that showed the US economy created the least number of jobs in six months in March, supported the rupee, forex dealers said."
Going ahead a Reuters poll of nearly 70 foreign exchange strategists polled April 3-6 showed most emerging Asian currencies will appreciate anywhere between 0.5 percent and 3 percent by this time next year against the dollar.
It added, "The U.S. currency is down around 2 percent this year and the outlook has dimmed further as the dollar has fallen in recent weeks."
Meanwhile, the benchmark BSE Sensex was trading at 33,738.91 above 111.94 points or 0.33%, however in early trade, the index advanced by over 136 points. On the other hand, Nifty 50 surged over 43.15 points or 0.42% trading at 10,374.75.