Rupee Up 16 Paise Against U.S. Dollar In Early Trade.

The Indian rupee was trading 16 paise higher at Rs. 44.27 per dollar on the Interbank Foreign Exchange in morning on Thursday, supported by a higher opening in the stock market and dollar weakness against other currencies overseas.

The domestic currency had appreciated by 8 paise to close at Rs. 44.43/44 per dollar in yesterday’s session on fresh dollar selling.

Forex dealers said dollar weakness against major currencies, including the euro, after the US Federal Reserve held key rates steady, and a higher opening on the bourses kept the sentiment firm, but some month-end dollar demand from importers limited the gains.

The Bombay Stock Exchange Sensex today gained 93.36 points, or 0.48 per cent, to 19,542.05 in opening trade.

Source : thehindu.com