Rupee firms up 12 paise as dollar slips overseas

Mumbai: The rupee gained traction in the final session of 2016-17 as it strengthened by 12 paise to 64.80 against the US dollar early today on increased selling of the American currency amid continued foreign inflows.

Besides the increased selling activity of the greenback by banks and exporters, dollar’s weakness against other currencies overseas led to the rupee’s climb.

However, a lower opening in the domestic equity markets capped the rupee’s gain, traders said.

The local currency had closed with a mere loss of 1 paisa at 64.92 yesterday.

Meanwhile, the benchmark BSE Sensex fell 72.53 points, or 0.24 per cent, to 29,574.89 in early trade.

PTI