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Rupee Ticks up 5 Paise as Dollar Selling Continues

A picture depicting Indian currency notes.

Mumbai: Looking good for the seventh session, the rupee advanced another 5 paise to 67.42 against the dollar in early trade on Thursday as there was no let-up in the selling of the American currency by exporters and banks.

The dollar turned weak globally, which supported the rupee move. But this was offset by fresh losses in domestic equities, dealers said.

On Wednesday, the local currency ended at 1-1/2 month high of 67.47 by rising 40 paise, its biggest single-day gain this year, on the back of frantic dollar offloading amid expectations of a Fed rate hike delay.

In the meantime, the benchmark Sensex traded lower by 50.61 points, or 0.18 percent, at 28,091.03 in the early session.

Source: News18