Rupee continues its free fall, record low of 70.32 a dollar
economy, india

Rupee strengthens to 67.42 against dollar

Indian rupee advances 5 paise to 67.42 against the dollar in early trade on Thursday as there was no let-up in the selling of the American currency by exporters and banks. The dollar, in turn, became weak globally, causing a hike in the Rupee value. But this was offset by fresh losses in domestic equities, dealers said.

Yesterday, the local currency ended at 1-1/2 month high of 67.47 by rising 40 paise, its biggest single-day gain this year, on the back of frantic dollar offloading amid expectations of a Fed rate hike delay.

In the meantime, the benchmark Sensex traded lower by 50.61 points, or 0.18 %, at 28,091.03 in the early session.

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