Published on 13/09/2017 4:39:23 PM | Source: Dion Global Solutions Ltd

Rupee trades higher against greenback

Posted in Currency News | #Rupee #US dollar #Currency News

The Indian Rupee was trading higher against the US dollar on Wednesday on selling of the US currency by exporters and banks. According to forex dealers, weakness in dollar against major currencies overseas also boosted the rupee. The dollar fell to its weakest level since 2015 as experts warn that Hurricane Irma could have a devastating impact on the US.

The powerful storm has left a trail of death and destruction in the Caribbean and is headed towards the US. Besides, increased selling of the dollar by exporters and banks and a firm domestic equity market supported the rupee, the dealers added. At the Interbank Foreign Exchange Market, the local currency was up by 05 paise at 64.09 per dollar against a previous close of 64.14 per dollar at 15:40 hours. Meanwhile, the benchmark BSE Sensex closed days’ trade at 32186.41, up by 27.75 points or by 0.09 per cent, and the NSE Nifty ended at 10079.3, down by 13.75 points or by 0.14 per cent.