The rupee
strengthened by 9 paise to 61.60 against the Greenback in early trade on
Wednesday, extending its rising streak for the fifth straight day at the
Interbank Foreign Exchange (Forex) market on selling of the US dollar by
exporters and banks.
Traders said
besides selling of the US currency by exporters and banks, continued foreign
fund inflows and a higher opening in the domestic equity market helped the
rupee to strengthen.
Besides, dollar's
weakness against other currencies overseas supported the local unit.
The rupee settled
two paise higher at 61.69 against the dollar in Tuesday's trade with banks and
exporters selling the American unit amid sustained capital inflows in view of
strong equity markets.
Meanwhile, the benchmark
Bombay Stock Exchange (BSE) index Sensex on Tuesday surged by 75.24 points (or
0.26 per cent), to trade at a new high of 28,859.91 early trade on Wednesday.
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