Rupee hike against dollar, up 30 paise

The rupee strengthened by 30 paise to 66.25 against the US dollar in early trade on April20, today at the Inter-bank Foreign Exchange on raised selling of American currency by exporters.

A decline in the dollar across major world currencies all over after data showed new US home development bended in March to the least pace since October helped strengthen the domestic currency,as per the dealers.

“Likewise , increased selling of the dollar by exporters and banks and a higher opening in the domestic equity market propped up the rupee”, dealers said.

The rupee had found 9 paise to end at 66.55 on Monday on fresh selling of the greenback in view of its weakness in the overseas market

However, the benchmark BSE Sensex rose 137.47 points, or 0.53%, to trade at 25,953.83.

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