Rupee rises 21 paise to 68.36 against U.S. dollar

Fresh selling of the American unit by exporters and banks and fall in global crude oil prices boosted the domestic currency

The rupee strengthened 21 paise to trade at 68.36 against the U.S. dollar in morning session at the interbank forex market on Tuesday.

Fresh selling of the American unit by exporters and banks and fall in global crude oil prices boosted the domestic currency.

However, strength in dollar overseas, as investors awaited U.S. Federal Reserve Chairman Jerome Powell’s first congressional testimony for hints on the pace of interest rate hikes, capped rupee’s gains, traders said.

Yesterday, the rupee had retreated from a near two-week high by ending 4 paise lower at 68.57 against the U.S. currency.

The benchmark Sensex fell 57.26 points, or 0.16 per cent, to 36,266.41 points in opening trade on Tuesday.

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