Indian Rupee Stronger By 6 Paise Against US Dollar
New Delhi: The Indian Rupee on Wednesday squirted by 6 paise to stand at 68.62 against the US Dollar, in the aftermath of the American dollar weakening against China’s Yuan as well as the Euro due to sustained foreign fund inflows.
Dealers and economists are of the opinion that increased selling of the greenback by exporters and banks in view of higher openings in domestic equity market has made the Indian currency slightly stronger.
On Tuesday, after a two week low, the Indian rupee rose in position against the US Dollar by virtue of a fresh stint of dollar selling by exporters and banks. Furthermore, the standard BSE Sensex also increased by 110.06 points or 0.29 per cent, to stand at 37,775.86 in early trade. This sudden surge was also influenced by the Foreign portfolio investors (FPIs), which brought shares worth Rs 314.83 crore on Tuesday.