Rupee gains further, up 14 paise vs dollar in late morning deals

Sustained bouts of dollar selling by banks helped rupee

The rupee appreciated further from early gains and was trading higher by 14 paise against the US dollar to Rs 67.64 in late morning deals on sustained bouts of dollar selling by banks and exporters amid rallying local equities.

The Indian unit resumed higher at 67.77 per dollar as against last Friday's closing level of 67.78 at the Interbank Foreign Exchange (Forex) market.

Later, it advanced to 67.63, before quoting at 67.64 at 1040 hours.

The domestic unit hovered in a range of 67.79 and 67.63 during morning trade.

The dollar index was down 0.18% at 99.47 against a basket of six currencies in early trade.
 
Globally, the US dollar was higher against major currencies in early Asian trade after the Bank of Japan adopted negative interest rates and sent bond yields sliding across the globe, particularly in Europe.

Meanwhile, the benchmark BSE Sensex was higher by 58.37 points, or 0.23%, to 24,929.06 in late morning trade.