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Indian rupee up 15 paise against US dollar

Indian rupee gained 15 paise to 63.42 on fresh selling of US currency by banks…

government debt
Three banks snapped up almost 90 percent of bonds sold by Indian states to foreigners, and turned them into derivatives, raising the prospect of more volatility in one of Asia's best performing debt markets. (Reuters)

Indian rupee gained 15 paise to 63.42 on fresh selling of US currency by banks on hopes of resumption of capital inflows in view of recovery in the equity market despite higher dollar in overseas markets.

The rupee resumed higher at 63.51 as against yesterday’s closing level of 63.57 at Interbank Foreign Exchange (Forex) and hovered in a range of 63.40-63.56 per dollar before quoting at 63.42 at 1000 hrs.

The rupee had lost 28 paise, or 0.44 per cent, in last two days.

In New York market, the dollar rose yesterday to its highest level against the Norwegian krone since July 2002 as weakening oil prices continued to weigh on the economies of major oil exporters.

Meanwhile, the benchmark Sensex was quoted higher by 33.14 points, or 0.12 per cent, to 27,020.60 at 1000 hrs.

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First published on: 07-01-2015 at 10:17 IST
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