Rupee firms up by 24 paise against US dollar

The Indian rupee strengthened by another 24 paise to 61.83 against the American currency in the late morning trade on persistent selling of dollars by banks and exporters.

Sustained capital inflows from foreign funds into equity market also boosted the rupee sentiment, a forex dealer said.

The rupee resumed higher at 61.90 per dollar as against the last closing level of 62.07 per dollar at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 61.81-62 per dollar before quoting at 61.83 at 1040hrs, showing a gain of 24 paise from its last close.

In New York, the U.S. dollar rose against major rivals yesterday after weekly jobless claims fell unexpectedly, but gains were muted amid fiscal uncertainty in Washington.

Meanwhile, crude oil prices eased in Asian trade today after the United States and Russia agreed on a draft UN Security Council resolution on destroying Syria’s chemical arms, analysts said.

The Indian benchmark sensex was trading lower by 64.53 pts or 0.32 pct to 19,829.32 at 1120hrs.