MUMBAI: Extending gains for the fourth straight day, the rupee moved up by three paise to close at 63.52 against the American currency on persistent selling of dollars by banks and exporters on hopes of resumption of foreign capital inflows.
Sustained rise in equity markets in view of progress in monsoon mainly boosted the rupee value against the dollar, forex dealers said.
The rupee resumed slightly higher at 63.52 as against the last weekend’s level of 63.55 at the Interbank Foreign Exchange (forex) market.
It moved in a range of 63.57 and 63.46 during the day, before ending at the same opening level of 63.52, showing a gain of three paise, or 0.05 per cent, from its last weekend’s level.
Be Part of Quality Journalism
Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.