Persistent selling of dollars from banks, exporters took the rupee higher
Press Trust of India
The Indian rupee advanced further by 23 paise to 52.68 against the American currency in the late morning trade due to persistent selling of dollars from banks and exporters despite firm dollar in the overseas market.
The rupee resumed higher at 52.83/84 per dollar at the Interbank Foreign Exchange market against the last closing level of 52.91/92 per dollar and firmed up further to 52.68 per dollar before quoting at 52.76/77 per dollar at 1030 hrs.
The domestic currency hovered in a range of 52.68 per dollar and 52.86 per dollar during the morning deals.
Sustained selling of dollars from banks and exporters mainly boosted the rupee value against the dollar, a forex dealer said.
However, in New York the euro tumbled to its lowest level versus the dollar yesterday since January and remained under pressure after European voters rejected pro-austerity candidates in weekend elections, calling into question the region's control over its sovereign-debt crisis.
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