The Indian rupee strengthened against the U.S. dollar in the morning deals on Monday, as investor sentiment rose following a strong U.S. jobs report that eased eased fears of an economic slowdown in the world’s largest economy.
The benchmark BSE Sensex was up 445 points or 1.64 percent at 27,571 while the broader Nifty index was up 124 points or 1.49 percent at 8,446.
Against the greenback, the rupee rose to nearly a 4-week high of 67.0575 from an early low of 67.1300. At yesterday’s close, the rupee was trading at 67.1500 against the greenback.
If the rupee extends its uptrend, it is likely to find resistance around the 66.40 area.
The material has been provided by InstaForex Company – www.instaforex.com