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Rupee rises 23 paise against dollar in opening trade

The rupee strengthened by 23 paise to 64.94 against the US dollar at the interbank forex market on Monday on…

PTI | Mumbai | March 12, 2018 9:34 am

Rupee rises 23 paise against dollar in opening trade

Representational Image (Photo: Getty Images)

The rupee strengthened by 23 paise to 64.94 against the US dollar at the interbank forex market on Monday on fresh selling of the greenback by exporters and banks amid foreign capital inflows.

Dealers said dollar’s weakness against a basket of currencies despite strong US jobs report data and early gains in domestic equity markets supported the rupee.

On Friday, the rupee had lost 3 paise to end at 65.17 against the US dollar.

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Meanwhile, the benchmark BSE Sensex rose by 301.55 points, or 0.90 per cent, to 33,608.69 in opening trade today.

According to the provisional exchange data, foreign investors bought shares worth Rs 550.36 crore on net basis on Friday.

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A global rupee

With the Reserve Bank of India's Inter-Departmental Group having expressed the view that the rupee possesses the potential of evolving into a global currency in the wake of India's resilient economic growth amid global challenges, the potential of such a development is significant for India's economic growth and international standing.

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