The rupee on Wednesday strengthened by another 3 paise to 62.82 against the dollar on persistent selling of the American currency by banks and exporters amid fresh foreign capital inflows into the equity market.

The rupee resumed flat at 62.85 per dollar at the at the Interbank Foreign Exchange (Forex) market and hovered in a range of 62.7150 and 63.02 before concluding at 62.82 per dollar, showing a gain of 3 paise of 0.05 per cent from its last close.

The rupee has gained 9 paise, or 0.14 per cent, in the last two days.

In Asian market, the dollar was trading lower against the yen on Wednesday, getting a boost as Japan’s main stock market trimmed its earlier gains, action that limited selling of the Japanese currency.

In New York market on Tuesday, the dollar ended mixed against major currencies, with the euro pivoting to modest gains against the greenback after euro zone Finance Ministers moved away from fixing a deadline for Greece to come up with fiscal reforms.

Source:- thehindu.com