Rupee strengthens 14 paise against US dollar

Mumbai: The rupee climbed 14 paise to 64.75 against the US currency on Wednesday, spurred by positive equities.

Banks and exporters chose to kept an arm's length from the dollar.

Stock markets continued to show strength that bolstered rupee sentiment, currency traders said. However, the dollar's clout overseas weighed heavy on the domestic unit.

On Tuesday, the rupee had gained 22 paise to end at a two-week high of 64.89 against the dollar, cashing in on positive sentiment after Moody's upgrade of India's credit rating.

Meanwhile, the benchmark BSE Sensex rallied 111.64 points, or 0.33 per cent, to 33,589.99 in early trade.