The Indian Rupee appreciated further by 19 paise to trade at over 4-month high of 66.33 against the US dollar in early trade at the forex market on Wednesday Sep 07,2016 on increased selling of the American currency by banks and exporters
Besides strong foreign fund
inflows, dollar’s weakness against other currencies overseas after data
showed activity in the US service sector slowed sharply last month, and a
firm domestic equity market boosted the rupee value against the dollar,
forex dealers said
The rupee had soared 30 paise to
end at near four-month high of 66.52 yesterday on weak dollar after
weaker-than-expected US jobs data eased fears of an imminent rate hike
by the Federal Reserve.
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