Rupee gains 17 paise, stocks offer support

Wednesday, Mar 2, 2016,10:10 IST By metrovaartha A A A

Mumbai | The rupee appreciated further Wednesday as it rose by 17 paise to over a three-week high of 67.68 against the US currency on sustained bouts of dollar selling from banks and exporters amid firm domestic equities. The rupee resumed higher at 67.74 from yesterday’s closing level of 67.85 at the Interbank Foreign Exchange Market (Forex) here today.

It advanced further to 67.58 before quoting at 67.68 at 1109 hours. The domestic unit moved in a range of 67.76 and 67.58 during the morning trade. Meanwhile, the dollar index was up by 0.06 per cent at 98.39 against a basket of six currencies in early trade.

Overseas, the US dollar was trading mixed while the Japanese yen nursed broad losses in early Asian trade after encouraging US factory and construction data, which offered hope that the economy is pacing up.

Meanwhile, the benchmark BSE Sensex was trading higher by 401.76 points, or 1.69 per cent, at 24,181.11 at 1050 hours.