Mumbai:
The rupee advanced by 6 paise to trade at a fresh four-week high of
66.59 against the US dollar in early trade on June 9 on sustained
selling of the American currency by banks and exporters.
Moreover, weakness in dollar against other currencies overseas on
expectations that the US Federal Reserve will keep benchmark interest
rates low for longer also supported the rupee at the Interbank Foreign
Exchange market, dealers said. They said, however, a lower opening in
the domestic equity market, capped the rupee's gain.
On June 8, the rupee firmed up by 12 paise to close at a four-week
high of 66.65 on sustained selling of the American currency by banks and
exporters amid persistent foreign capital inflows. Meanwhile, the
benchmark BSE Sensex fell by 90.74 points or 0.33 per cent at 26,929.92
in early trade on June 8.