Rupee spurts 12 paise against dollar

The rupee today positively reacted to India's jump on Ease of Doing Business ranking by rising 12 paise to 64.63 against the dollar.The World Bank's list was released yesterday.

Banks and exporters liquidated their dollar bets and domestic stocks soared to new highs, which gave the rupee a leg-up, forex traders said.

However, the US currency's strength



against other units had a sobering effect here, dealers said.Yesterday, the rupee had moved higher by 10 paise to end at a fresh two-week high of 64.75 against the dollar.

The benchmark BSE Sensex rallied 238.16 points to hit an all-time high of 33,451.29 while the NSE Nifty crossed the 10,400-point mark for the first time in early trade today.