Rupee hits new 3-week high, jumps 20 paise to 66.77
Expectations of more foreign capital inflows in view of robust domestic equities boosted the rupee value against the dollar, a forex dealer said.business Updated: Jun 07, 2016 18:39 IST
The rupee continued to rule firm against the American currency for the fourth day, moving up by another 20 paise to close at a fresh three-week high of 66.77 on sustained selling of dollars by banks and exporters amid strong recovery in domestic equities.
Expectations of more foreign capital inflows in view of robust domestic equities boosted the rupee value against the dollar, a forex dealer said.
The BSE benchmark Sensex bounced back by 232.22 points to close above the 27,000-level after a gap of over 7 months at 27,009.67 on fresh buying mainly in interest-based counters as the Reserve Bank kept its key policy rate unchanged and indication of a rate cut in near future.
The rupee resumed higher at 66.92 as against the last closing level of 66.97 per dollar at the Interbank Foreign Exchange (Forex) market and hovered in a range of 66.72 and 66.94 before finishing at 66.77, showing a gain of 20 paise or 0.30 percent.