Rupee surges 19 paise to 72.77 against $

Mumbai THE rupee strengthened by 19 paise to end at 72.77 against the US dollar on Tuesday, tracking weakness in the American currency in the overseas market. At the interbank for ex market, the local unit opened at 72.85 against the greenback and witnessed an intra-day high of 72.75 and a low of 72.87. It finally ended at 72.77 against the American currency, registering a rise of 19 paise over its previous close.

On Monday, the rupee had settled at 72.96. "The Indian Rupee appreciated on the back of weakness in dollar. Dollar slipped amid decline in US treasury yields, rise in risk appetite in the global markets and expectation of poor economic data from the US."