Weekend News: Rupee advances Higher On Fresh Dollar Sales

Indian rupee us dollars The Indian rupee moved forward in early trades on weekend, 16 Dec 2016, on fresh selling of the US currency by exporters. Moreover, a higher opening in domestic equity market and the weak spot of dollar against some currencies overseas also supported the sentiment.

The domestic currency opened at Rs 67.80 against the dollar but plunged to a low of 67.86 during the day. In the spot currency market, the Indian unit was trading at 67.815. On Friday, the rupee took a sharp pitch of 40 paise against the US dollar to close at 67.83 as the US currency gained impetus after the Fed Reserve announced a rate hike of 25 bps to 50-75 bps.

The dollar held heavy gains against major currencies on Friday, after scaling 14-year highs against the euro and a broader basket of currencies.

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