Rupee Surges 17 Paise To 68.93 Against US $
Mumbai: The rupee appreciated 17 paise to 68.93 against the U.S. dollar in opening trade on Monday, amid weakening of dollar in overseas markets and sustained foreign inflows.
Forex dealers said narrowing trade deficit and selling of the American currency by exporters supported the upward spree of the domestic currency.
Rising for the sixth consecutive session, the rupee opened higher at 68.92 at the interbank forex market and gained further ground to touch 68.87. However, it lost some gains and was quoting 17 paise higher at 68.93.
On Friday, the rupee had jumped 24 paise to close at 69.10 against the U.S. dollar due to sustained foreign fund inflows and heavy buying in domestic equities.
Meanwhile, the benchmark BSE Sensex was trading higher by 232.31 points, or 0.61%, at 38,256.63.