Rupee goes up 3 paise against American dollar

Mumbai, Jun 23 The rupee made an modest yet positive begin on Friday by edging up 3 paise to 64.56 against the US dollar.

The appreciation in value of the local unit, which has been losing ground for as long as three days, followed fresh selling of the American currency by banks and exporters.

As per merchants, a positive opening in domestic stocks and a weakening dollar overseas supported the rupee.

Oil prices are en route up and US Treasury bills fell.

On Thursday, the rupee devalued by 7 paise to end at a crisp three-week low of 64.59 on relentless dollar request in the midst of a worldwide oil decrease.

In the interim, the benchmark BSE Sensex rose 74.65 points, or 0.23 per cent, to 31,365.39 in early trade on Friday.