Rupee withstands Fed rate hike;opens 13 paise up at 66.60 vs $

Mumbai: The rupee appreciated by 13 paise at 66.60 against the US dollar in early trade today on increased selling of the American currency by exporters even as the US Federal Reserve raised interest rates for the first time in nearly a decade.

Forex dealers said a higher opening in the domestic equity markets also supported the rupee but the dollar’s rise against other currencies overseas after the American central bank hiked interest rates by 0.25 per cent, capped the gains.

The rupee had jumped by 19 paise to close at one-week high of 66.73 against the US dollar yesterday amid rising equities.

The benchmark BSE Sensex shot up by 164.95 points, or 0.64 per cent, to 25,659.32 in early trade.

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