Rupee gains further ground, ends 9 paise higher at 67.96

January 05, 2017 21:30

The rupee today continued its winning run for the second day, appreciating by 9 paise to end at 67.96 on sustained dollar unwinding from banks and exporters.

A spectacular rally in domestic financial markets as well as sluggish greenback overseas supplemented further strength to the local currency upsurge.

However, suspected intervention by the apex bank to prevent the rupee's surge in the interest of exporters restricted its early solid gains.

The domestic unit resumed on a firm footing at 67.87 from Wednesday's closing value of 68.05 at the Interbank Foreign Exchange market on continued dollar selling.

Adding muscles to upsurge, the home currency climbed to hit an intra-day high of 67.76 in mid-afternoon deals, but relinquished strong early gains towards the fag-end trade and settled at 67.96, showing a modest gain of 9 paise, or 0.13 per cent.

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