Rupee up 5 paise against US dollar at 63.25
The rupee on Monday gained a marginal 5 paise to close the day at 63.25 against the US dollar on fresh selling of the US currency by exporters amid bullish stocks.business Updated: Dec 23, 2014 06:21 IST
The rupee on Monday gained a marginal 5 paise to close the day at 63.25 against the US dollar on fresh selling of the US currency by exporters amid bullish stocks.
The dollar losing strength in the overseas markets also helped the rupee rise.
At the Interbank Foreign Exchange (Forex) market, the rupee moved in the range 63.13 and 63.32 before settling at 63.25, showing a gain of 5 paise.
Foreign portfolio investors sold shares worth Rs 668.85 crore, as per provisional data with stock exchanges.
Pramit Brahmbhatt, Veracity Group CEO, said: "Today (Monday) rupee started the day on the lower side, taking cues from the dollar demand from oil importers... But towards the end, local equities supported the rupee as it traded strong and posted gains."
Meanwhile, benchmark BSE Sensex flared up by 329.95 points or 1.21%, extending gains for the third straight session.
In the forward market, the benchmark six-month premium payable in May ended at 196.5-198.5 paise as against 196-198 paise previously.
Forward contracts maturing in November 2015 also settled at 402.5-406.5 paise as against 401-403 paise in the previous trading day.
Reserve bank of India fixed the reference rate for dollar at 63.17 and for euro at 77.41.
The rupee also recouped against the pound to 98.70 from the last close of 98.91. Against euro, it improved further to 77.54 from 77.64.
It also strengthened to 52.81 per 100 Japanese yen from 53.04.