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Mumbai, May 21: The rupee today ended higher by 18 paise at 63.64 against the US dollar on fresh selling of the American currency by banks and exporters amidst weakness of the greenback in overseas markets. Good foreign capital inflows also boosted the rupee value against the dollar, a forex dealer said. (Also Read:INR to USD forex rates today: Rupee gains 17 paise against dollar in early trade) Also Read - Sensex Tumbles 746 Points To End At 48,878; Nifty Tanks 218.45 Points, Ends Below 14,375
The rupee resumed higher at 63.73 as against the last closing level of 63.82 at the Interbank Foreign Exchange (Forex) andfirmed up further to 63.62 before concluding at 63.64, disclosing a gain of 18 paise, or 0.28 per cent. Yesterday, the domestic currency had dropped by 15 paise, or 0.24 per cent, against the dollar. Also Read - Sensex Hits All-time High, Trades Above 50,000
The rupee hovered in a range of 63.62 and 63.82 per dollar during the day. The dollar was lower against the yen in Asian trade today, with its upside capped by profit taking and selling by Japanese exporters after a recent rally that brought the greenback to a two-month high. The dollar index, a gauge of six other major global rivals, was trading lower by 0.54 per cent. Besides, the minutes of Federal Reserve?s April meeting released overnight showed that the central bank officials doubted they would be ready to raise short-term interest rates by mid-year. Meanwhile, the S&P BSE benchmark Sensex ended lower by 27.86 points, or 0.10 per cent, at 27,809.35.