Rupee up 16 paise against US dollar

Rupee up 16 paise against US dollar

Mumbai: The rupee surged by 16 paise to 44.88 per dollar at the Interbank Foreign Exchange in early trade on Thursday, boosted by dollar weakness against other Asian currencies and a higher opening in the stock market.

The rupee had gained 5 paise to close at 45.04/05 in the previous session on sustained dollar-selling by exporters and banks.

Forex dealers said dollar weakness against other Asian currencies and the euro, in addition to a higher opening in the stock market, supported the rupee gains.

Meanwhile, the Bombay Stock Exchange benchmark Sensex rose by 81.71 points, or 0.40%, to 20,337.74 in opening trade on Thursday.

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