Rupee up 5 paise at 61.50…

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The rupee was trading strong by 5 paise at 61.50 against the dollar , The rupee opened marginally higher at 61.53 against the US dollar in early trade at the Interbank Foreign Exchange market today on increased selling of the American currency by exporters and banks.

Besides, the dollar’s weakness against other currencies overseas and a higher opening in the domestic equity market supported the rupee, forex dealers said. The domestic unit hovered in the range of 61.46 and 61.56 in the afternoon trade.

According to dealers, the bank union strike today may have an impact the volumes of the trading session. Yesterday, the rupee ended lower by five paise at 61.55 against the dollar due to fresh demand for the US currency from banks and importers.

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