MUMBAI: After the long period of weakness, the rupee strengthened by 40 paisa to 63.21 versus the dollar in early morning on Thursday at Interbank Foreign Exchange on surged selling of US currency by exporters and bank between higher starting in the domestic equity market.
Forex dealers said besides selling of the American currency by exporters, gains in other currencies against the dollar overseas after the US Federal Reserve indicated interest rates would be hiked by mid-2015 and a rebound in the domestic stock market, supported the rupee.
On Wedneday, the rupee had lost 8 paise to close at 63.61 against the dollar due to persistent capital outflows.
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