Mumbai: The rupee strengthened by four paise to 65.25 against the dollar in early trade on Tuesday on sustained selling of the United States currency by exporters and banks amid firm equity markets.
The dollar was trading against the Indian rupee at Rs 65.32, the greenback was at 4.4000 in terms of the Malaysian ringgit and the U.S. currency was available at 6.3571 in terms of the Chinese ringgit.
India on 12 October will pay another $700 million to Iran to clear a part of past oil dues, the second payment since the Persian Gulf nation reached a historic nuclear deal with western powers, PTI reported. Bond yields and costs transfer in reverse instructions. The rupee held the last levels versus the dollar for buying and selling at Rs 104.50 and Rs 104.51 respectively, they said.
Most Asian currencies closed decrease.
A fall in dollar against major world currencies globally, after a weak USA jobs data fuelled speculation that the world’s largest economy is not ready for an interest rate hike any time soon, also helped the rupee gain strength, dealers said. Sentiments weakened after the seasonally adjusted Nikkei Business Activity Index slowed to 51.three in September…