Rupee firms up 11 paise against US dollar

The greenback ran out of luck overseas too, snapping its winning streak, as it fell against major peers.

Rupee firms up 6 paise against US dollar

The dollar losing sheen against other currencies overseas supported the local unit, traders said.

Forex dealers said the greenback hit high overseas after US manufacturing activity in September rose to its highest level in 13 years.

On Monday, the rupee had plunged 31 paise to close at a six-month low of 65.10.

On Wednesday, the rupee plummeted by a whopping 54 paise to end at 64.81 a dollar.

On Wednesday, the rupee had ended four paise higher at 64.00 on fresh selling of the American currency by exporters.

On Monday, the rupee had retreated from its one-month high to end lower by 15 paise.

A strong dollar in overseas markets weighed on the rupee sentiment, currency traders said.

The rupee had ended lower by 12 paise against the US dollar to end at 64.02 on Friday.

The rupee’s surge is making the country’s exports less competitive and is also driving up imports.