Rupee up by 40 paisa against dollar

The national currency appreciated by 40 paisa against the greenback and closed at Rs79.90 in the inter-bank today.

According to forex market dealers, stability in rupee value has given confidence to the people after which exporters have also started selling the US dollar in the market.

Meanwhile, the dollar was being purchased at Rs79.50 and sold at Rs80 in the open market.

The rupee has started to stabilize after State Bank’s recent measures on strict monitoring policy, according to the analysts.