Rupee edges up further to 59.25 against US dollar

In yet another dull trade today, the Indian rupee improved further by two paise to close at 59.25 against the US dollar on smart recovery in local stocks amid stray dollar selling by exporters.

However, a stronger Greenback overseas and fresh capital outflows limited the rupee's rise, a forex dealer said.

At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed lower at 59.33 a dollar from last close of 59.27 and eased further to a low of 59.3650. It later recouped to a high of 59.23 before settling at 59.25, showing a rise of two paise or 0.03 per cent.

The benchmark BSE Sensex on Thursday bounced back by 102.32 points, or 0.40 per cent, while FIIs sold shares worth Rs 313.40 crore on Wednesday.

The dollar index, a gauge of six major global rivals, was up by 0.02 per cent.

"The trading range for the Spot USD/INR pair is expected to be within 59.00 to 59.80," Pramit Brahmbhatt, CEO, Veracity Group, said.