AI: The rupee on Wednesday continued its upward march for the seventh day by surging 12 paise to close at 66.21 against the American currency on sustained selling of dollars by banks and exporters amid foreign capital inflows.
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The rupee resumed higher at 66.26 as against Tuesday's closing level of 66.33 at the Inter-bank Foreign Exchange (forex) market.
It moved in a range of 66.12 and 66.30 during the day before finishing at 66.21 per dollar, showing a gain of 12 paise or 0.18 per cent.
It has gained by 88 paise or 1.31 per cent in seven days.
The dollar index was up 0.08 per cent against a basket of six currencies in the late afternoon trade.
Overseas, the dollar edged down in Asian early trading today after data overnight painted a mixed picture of the US economy, with major currency pairs trading in a narrow range as traders wound down in a holiday-heavy week.
However, the dollar posted small gains against most other major currencies in the late afternoon trade, with the euro weakening on the back of disappointing French data.
"French GDP for the third quarter was revised down, and consumer spending is also looking softer, which has led the euro slightly lower against the dollar," said senior sales trader at London Capital Group.
Meanwhile, the Indian benchmark Sensex rose by 259.65 points or 1.01 per cent on Wednesday.
Foreign investors remained net sellers and sold shares worth Rs 157.07 crore yesterday, as per provisional data.
In forward market today, premium for dollar displayed a steady to easy trend.
The benchmark six-month premium payable in May quoted at 195-196 paise as compared to 195.25-196 paise, while far forward November 2016 contract eased to 404-405.50 paise from 405-406 paise earlier.The RBI fixed the reference rate for the dollar at 67.0435 and for the euro at 73.9289.
In cross-currency trades, the rupee rebounded against the pound sterling to end at 101.50 from Monday's close of 101.61, while remained weak against the euro at 73.71 compared to 73.64 earlier.
It, also declined against the Japanese currency to settle at 55.28 from yesterday's close of 55.06 per 100 yen.
www.sevagiri.com
The rupee resumed higher at 66.26 as against Tuesday's closing level of 66.33 at the Inter-bank Foreign Exchange (forex) market.
It moved in a range of 66.12 and 66.30 during the day before finishing at 66.21 per dollar, showing a gain of 12 paise or 0.18 per cent.
It has gained by 88 paise or 1.31 per cent in seven days.
The dollar index was up 0.08 per cent against a basket of six currencies in the late afternoon trade.
Overseas, the dollar edged down in Asian early trading today after data overnight painted a mixed picture of the US economy, with major currency pairs trading in a narrow range as traders wound down in a holiday-heavy week.
However, the dollar posted small gains against most other major currencies in the late afternoon trade, with the euro weakening on the back of disappointing French data.
"French GDP for the third quarter was revised down, and consumer spending is also looking softer, which has led the euro slightly lower against the dollar," said senior sales trader at London Capital Group.
Meanwhile, the Indian benchmark Sensex rose by 259.65 points or 1.01 per cent on Wednesday.
Foreign investors remained net sellers and sold shares worth Rs 157.07 crore yesterday, as per provisional data.
In forward market today, premium for dollar displayed a steady to easy trend.
The benchmark six-month premium payable in May quoted at 195-196 paise as compared to 195.25-196 paise, while far forward November 2016 contract eased to 404-405.50 paise from 405-406 paise earlier.The RBI fixed the reference rate for the dollar at 67.0435 and for the euro at 73.9289.
In cross-currency trades, the rupee rebounded against the pound sterling to end at 101.50 from Monday's close of 101.61, while remained weak against the euro at 73.71 compared to 73.64 earlier.
It, also declined against the Japanese currency to settle at 55.28 from yesterday's close of 55.06 per 100 yen.
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