times of nindia

Rupee up 16 paise against dollar in early trade

MUMBAI: The rupee on Wednesday extended gains for the fifth session in a row by appreciating 16 paise to 63.68 against the dollar in early trade at the Interbank Foreign Exchange market amid weakening US currency overseas.

The rupee had settled at 63.84 against the dollar on Tuesday and was up 140 paise over the previous day's close as fears of US military strike on Syria eased, leading to lower global oil prices.

Traders said besides decline in India's trade deficit, dollar selling by exporters and its weakening against other currencies overseas helped the rupee to maintain its rising streak.
  nitesh kumar singh

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