The Hindu Business Line
Rupee spurts 33 paise versus dollar
The rupee surged by 33 paise to close at 68.41 against the US dollar on Wednesday, amid the greenback’s weakness against key rivals overseas, even as oil prices firmed up on supply concerns. This is the third straight session of gains for the domestic currency, during which it has strengthened by 89 paise. At the interbank forex market, the rupee opened at 68.72 a dollar and advanced to a high of 68.37 during the day. It finally settled at 68.41, up 33 paise against its previous close of 68.74. Heavy foreign fund outflows, rising crude oil prices and selling in domestic equities capped the gains for the rupee, forex dealers said. FIIs remained net sellers in the capital markets, pulling out ₹1,040.48 crore on Wednesday.