Rupee Vs dollar: Sensex, Nifty gain supports Indian currency
The rupee was trading at 66.376 down by 0.179 paisa or 0.27% against dollar index.
Rupee Vs dollar: The Indian currency strengthened against US benchmark dollar index at the interbank forex market on Tuesday, however, it remained trading over 66-mark for the fourth consecutive day. In early trade, the domestic unit was down by 8 paise to 66.40 against the US dollar on some selling of the greenback by exporters and banks.
At around 1044 hours, Indian rupee was trading at 66.376 down by 0.179 paisa or 0.27% against US dollar index.
Dealers in a PTI report said, "A higher opening of domestic equities too lifted the domestic currency."
According to Reuters report, the climb in debt yields helped push the U.S. dollar to a seven-week high, putting additional pressure on commodities and sending the euro and yen lower.
In previous day, the rupee lost 36 paise to hit a fresh 13-month low of 66.48 against the US dollar as rising crude prices and sustained foreign fund outflows led to subdued forex market sentiment.
PTI report mentioned that, the US dollar had strengthened against major world currencies overseas, while investors maintained focus on the US Treasury market, where the 10-year yields were near with 3 per cent.
Meanwhile, the benchmark BSE Sensex was trading at 34,597.51 above 146.73 points or 0.43%, however, in early opening the index recovered 147.25 points, or 0.42%, to 34,598.02 points.
On the other hand, the Nifty 50 surged by 21.15 points or 0.20% trading at 10,605.85.