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Rupee strengthens to 67

Rupee strengthens to 67.28 on sustained dollar selling

Mon June 11 2018


The rupee was trading higher by 8 paise at 67.42 against the American currency due to sustained selling of dollar from banks and exporters.


Traders were keeping an eye on key macro events like consumer price index inflation and index of industrial production data which will be released tomorrow.


The rupee resumed slightly higher at 67.48 against Friday’s closing level of 67.50 at the interbank foreign exchange market today. It hovered in a range of 67.48 and 67.28 before quoting at 67.42 at 3.50 pm local time.


The dollar wallowed near a three-week low against peers on Friday as US Treasury yields fell sharply, while the euro's recovery remained intact amid expectations that the European Central Bank would begin unwinding it stimulus programme.


Meanwhile, the Sensex ended marginally higher by 39.8 points or 0.11 per cent at 35,483.47.



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