Source: The Hindu Businessline


MAY 17

The rupee firmed up by 22 paise to 67.58 against the US dollar on increased dollar selling by banks and exporters amid the greenback’s weakness against some currencies overseas. According to forex dealers, formation of BJP government in Karnataka also supported the rupee sentiment.

The domestic unit opened strong by 10 paise at 67.70 at the interbank forex market today. It hovered in a range of 67.75 and 67.58 before quoting at 67.67, up 13 paise at 11.30 am local time. Yesterday, the rupee had gained 27 paise at 67.80 against the US currency on suspected RBI intervention to stem further fall in the domestic currency. Meanwhile, the benchmark BSE Sensex was trading down by 95.56 points or 0.27 per cent at 35,292.32. (Source: The Hindu Businessline)