Rupee scales near 4-mth high of 66.67, up 4 paise

7 Mar 2017

The rupee Tuesday firmed up for the second consecutive session and closed at a nearly 4-month high of 66.67 on continued selling of the American currency by banks and exporters.
Forex market sentiment remained becalmed for yet another day, hampered by lack of key triggers amid general wariness ahead of the FOMC meet next week.
Healthy capital inflows into upbeat domestic equity markets on the back of better macro fundamentals largely helped the rupee to consolidate its gains, a forex dealer said.
Foreign funds infused a net Rs 564.15 crore in Indian equities yesterday as per the provisional figures.
Meanwhile, the global rating agency Fitch Tuesday said the Indian economy will grow by 7.1 per cent in the current fiscal before stepping up to 7.7 per cent in the next two financial years.
The domestic unit resumed higher at 66.67 from Monday's close of 66.71 at the Interbank Foreign Exchange (Forex) Market. The home currency closed at 66.67 a level last seen on 10 November.
It remained largely range-bound and hovered between 66.59 and 66.6925 during the most part of the day before ending at 66.67, revealing a gain of 4 paise, or 0.06 per cent.
Strengthening for the second-straight day, the domestic unit has appreciated by 14 paise.
On the global front, the dollar steadied against a basket of currencies in early European trade. The US dollar index was trading marginally up at 101.77 in late afternoon session.
The RBI fixed the reference rate for the dollar at 66.6347 and for the euro at 70.5595. (PTI)