Mumbai: The rupee rose by 23 paise to trade
at 63.40 against the dollar in opening session today, helped
by strong gains in domestic stocks and losses in the greenback
in obverses markets.
The rupee opened strong at 63.45 at the interbank forex
market against previous close of 63.63 per dollar as stocks
soared to record levels after strong economic data.
The rupee moved in range of 63.4875 per dollar to 63.3900
per dollar in early session before quoting at 63.40,
displaying strong gains of 23 paise against the greenback.
Industrial production growth zoomed to a 17-month of 8.4
per cent in November 2017.
Selling of the American currency by exporters supported
the rupee, forex dealers said.
The US dollar was struggling against the yen and pound
after reports of monetary tightening by Bank of Japan.
On Friday, the rupee had ended higher by a modest three
paise at 63.63 against the US dollar in a highly volatile
trade.
PTI
