Indian rupee appreciates by 6 paise at 67.12 against US dollar in early trade.

Indian rupee opened firm on Tuesday and was trading with gains of 6 paise at 67.12 against the US dollar in early trade at the forex market as exporters and banks took to fresh selling of the American currency. The local currency has closed at 67.18 level on Monday.

However, domestic equity markets that opened flat restricted local currency’s gains. At 9.55 am, Sensex was trading 6.88 points down at 27,978.66, while NSE Nifty was trading 1.60 points down at 8,627.55.

Dollar weakness against other emerging market currencies overseas also supported the rupee. The dollar dipped against the yen early on Tuesday, while the New Zealand dollar rose after the nation’s central bank chief said he did not see the need for a rapid succession of interest rate cuts.

Indian rupee was hovering in the range of 67.10 and 67.14 at 9.59 am.

Source : financialexpress.com​