Rupee gains 14 paise at 65.15 against greenback
12/03/2018 17:01

The rupee rallied over 14 paise against the US dollar amid strong selling of the greenback by exporters and a rally in the domestic equity market. Investor sentiment was also supported by US job data and lower-than-expected wage growth which eased fears about the Federal Reserve's rate hike trajectory.

At the Interbank Foreign Exchange Market, the local currency was trading 14 paise higher at 65.15 per dollar against a previous close of 65.29 per dollar (at 16:55 hours). During the day’s trade so far, the rupee touched an intra-day high of 65.07 after opening at 65.08.

Adding to it, rally in the equity market also gave a lift to sentiment at local forex market. The 30-share benchmark index closed at 33917.94, up by 610.8 points or by 1.83 per cent, and the NSE Nifty ended at 10421.4, up by 194.55 points or by 1.9 per cent.