Rupee inches up 9 paise in early trade

Forex dealers said that besides selling of the American unit by exporters, the dollar's weakness against some currencies overseas supported the rupee but a lower opening of the domestic equity market restricted the gains.

Rupee inches up 9 paise in early trade
Rupee ruled higher against the dollar, rising 9 paise to 67.90 in early trade at the Inter-bank Foreign Exchange on increased selling of the US currency by exporters and banks. Photo: Reuters
Written By: PTI
Updated: Fri, Dec 23, 2016
09:55 am
Mumbai, PTI
RELATED NEWS
Rupee vs Dollar: Indian currency rises 8 paise to 71.32 in early trade Rupee vs Dollar: Indian currency rises 8 paise to 71.32 in early trade
35 bps RBI repo rate cut: Indian rupee to hit 69 or 72-mark? Here's where INR is headed 35 bps RBI repo rate cut: Indian rupee to hit 69 or 72-mark? Here's where INR is headed

The rupee ruled higher against the dollar, rising 9 paise to 67.90 in early trade at the Inter-bank Foreign Exchange today on increased selling of the US currency by exporters and banks.

Forex dealers said that besides selling of the American unit by exporters, the dollar's weakness against some currencies overseas supported the rupee but a lower opening of the domestic equity market restricted the gains.

The local currency had depreciated by 8 paise to settle at 67.99 against the greenback yesterday on massive capital outflows that induced further instability to the currency markets.

Meanwhile, the benchmark BSE Sensex fell by 64.19 points, or 0.25 per cent, to trade at 25,915.41 in early trade.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.