The rupee was trading marginally higher against the US dollar in late afternoon trade at the Interbank Foreign Exchange after rating agency Moody’s upgraded India’s outlook from stable to positive.
At 4.07 pm, the rupee was trading at 62.22 against the previous close of 62.24. During the day, the rupee moved between 62.29 and 62.15.
Besides, selling of the American currency by exporters and banks and a higher opening in domestic stock market supported the rupee but the dollar’s strength against other currencies overseas limited the gains, forex dealers said.
The rupee had ended marginally higher by two paise at 62.24 against the American currency in yesterday’s trade due to weakness of the greenback in international markets.
Source:thehindubusinessline.com
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