Rupee trades marginally up against US dollar

19/12/2016 11:20

The Indian rupee rebounded against the US dollar after making a weak start at the Interbank Foreign Exchange on Monday amid fresh selling of dollars by banks and exporters.

According to Angel Broking, the local currency strengthened against the US counterpart as surge in as recent weakness in the home currency prompted the exporters, banks and traders to book profits.

At the Interbank Foreign Exchange Market, the local currency was trading up by 03 paise to 67.76 per dollar from a previous close of 67.79 per dollar at 11:25 hours. The Indian currency opened at 67.83, down 04 paise against the US dollar.

The home currency tumbled 40 paise against the US dollar on Thursday after the US Federal Reserve raised interest rates for the first time this year by 25 basis points to between 0.50 per cent and 0.75 per cent and also hinted of a brisker pace of rate rises in 2017.

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