Forex tips: The dollar weakened broadly on Monday ahead of the Federal Reserve's policy meeting on worries that the US central bank could become more cautious about raising interest rates, while Wall Street stocks rose because 4,913.56.
Rupee gains against dollar on sustained of selling of USD
The rupee strengthened by three paise to 62.67 against the US dollar at the Interbank Foreign Exchange in early trade today on sustained selling of the Greenback by exporters. Besides, early gains in domestic equity markets and the dollar's weakness against other major currencies overseas also helped
the rupee to log gains, forex dealers said. The rupee had closed 11 paise higher against the American currency to 62.70 yesterday amid a good show by stocks and on selling of dollars by banks and exporters. Meanwhile, the benchmark BSE Sensex rose by 70.59 points, or 0.24 per cent, to 28,806.97 in early trade today.
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