MUMBAI, MARCH 15: A day after it surged to a 16-month high on higher expectations of bold reforms, the rupee made a positive start — though muted — by rising 9 paise to 65.73 against the dollar, backed by foreign fund inflows.
Selling of the US dollar by exporters and banks and its weakness against other currencies overseas gave the rupee an upperhand, dealers said.
Further, a higher opening of the domestic stock market fuelled the rupee uptrend, they added.
Yesterday, the rupee had jumped 78 paise to end at 65.82, a nearly one-and-a-half year high, amid expectations that BJP’s emphatic victory in Uttar Pradesh will embolden the government to go for more reforms.
Meanwhile, the benchmark BSE Sensex rose another 26.22 points or 0.08 per cent to 29,468.85 in early trade.
Source: Thehindubusinessline.com
