Rupee Surges 14 Paise Against Dollar At 71.19
Mumbai: The Indian Rupee strengthened 14 paise to 71.19 against the US Dollar during early trade at the forex market on Thursday amid increased selling of the American currency by exporters and banks.
Forex dealers said dollar’s weakness against other overseas currencies and concerns of a slowing global economy and US government’s record-long shutdown and early gains in domestic equity markets helped the rupee strengthen its position against the dollar.
On Wednesday, the rupee had ended its three-day losing spree and settled 11 paise higher at 71.33 against the US dollar.
Meanwhile, the benchmark BSE Sensex recovered by 28.27 points, or 0.08 per cent, to 36,136.74 after rising to 36,178.36 in opening trade Thursday.