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Rupee upturns 16 paise against dollar
Rupee upturns 16 paise against dollar

In the early trade, the rupee appreciated by 16 paise to 66.38 against the US dollar extending its continuous rising streak for the fourth day in early trade on increased selling of the American currency by exporters and banks amidst continued foreign fund inflows.

Forex dealer said "The dollar weakened against its rivals overseas after the US Federal Reserve Chair Janet Yellen signalled that a rate hike was not likely before June" Besides, a higher opening of the domestic equity market supported the rupee, they added.

Yesterday, the rupee had gained three paise to close at 66.54 at the Interbank Foreign Exchange. Meanwhile, the benchmark BSE Sensex reclaimed the crucial 25,000-mark by soaring 217.17 points, or 0.87 per cent, to 25,117.63 in early trade today.

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