Rupee Rally Continues for 6th Day, Up 5 paise to 66.21

Rupee strenghtened on persistent selling of the American currency amid sustained foreign capital inflows.

Published: 04th April 2016 07:46 PM  |   Last Updated: 04th April 2016 07:46 PM   |  A+A-


Indian currency of different denominations. |File Photo: Reuters

MUMBAI: Extending its winning momentum for the sixth straight sessions, the rupee today strengthened by 5 paise to close at 66.21 per dollar on persistent selling of the American currency by banks and exporters amid sustained foreign capital inflows.

Recovery in the equity market also boosted the rupee value against the dollar, a forex dealer said.

The rupee resumed lower at 66.30 against last Thursday's closing of 66.26 at the Interbank Foreign Exchange (Forex) market and dropped to 66.3775 on initial dollar demand from banks and importers.

However, it recovered afterwards to 66.10 on selling of dollar by banks and exporters on hopes of more foreign capital inflows before finishing at 66.21, showing a gain of five paise or 0.08 per cent.

It has gained by 50 paise or 0.75 per cent in six trading days.

It hovered in a range of 66.3775 and 66.10 during the day.

The dollar index was up 0.11 per cent against a basket of six currencies in the late afternoon trade.

In overseas market, the dollar was on the defensive early, nursing deep losses against the euro and yen after Friday's firm US jobs report failed to shift a broadly held view that the Federal Reserve will remain cautious on raising interest rates this year.

Oil prices fell in early trading as the chances of Middle East producers agreeing to curb over-production appeared to fade, while US output remains stubbornly high.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp