The Indian Rupee extended rally against the greenback on Thursday amid selling of dollar by banks and exporters, while sustained foreign fund inflows also boosted home currency. Adding to it, rally in the equity market also boosted Rupee’s movement. At the Interbank Foreign Exchange Market, the local currency was up by 14 paise to trade at 64.55 per dollar against a previous close of 64.69 per dollar at 13:02 hours.
In the day’s trade so far, the Rupee touched an intra-day high of 64.45 after making a positive opening at 64.45. Meanwhile, the 30-share barometer SENSEX was trading at 32022.08, up by 217.26 points or by 0.68 per cent, and the NSE Nifty was at 9872.05, up by 55.95 points or by 0.57 per cent. The market sentiment also got a lift by dovish comment from Federal Reserve Chair Janet Yellen. Janet Yellen told Congress that the Federal Reserve will hike interest rate at a gradual pace and start trimming its bond holdings this year.