[Mumbai] Indian Rupee Recovers Against Mighty US Dollar .Rs Gained 39 Paise To Rs 67.63
Recovering from its 29-month lows, the rupee today regained 39 paise to 67.63 on fresh selling of dollars from banks and exporters on the back of recovery in equities despite higher greenback overseas.
The domestic unit resumed higher at 67.80 per dollar as against yesterday’s 29-month closing level of 68.02 at the Interbank Foreign Exchange (Forex) market.
Later, it strengthened further to 67.61 per dollar before ending at 67.63, showing a gain of 39 paise or 0.57 per cent.
The domestic currency had dropped by 37 paise or 0.55 per cent in previous two days.
The domestic unit hovered in a range of 67.61 and 67.84 during the day.
However, the dollar index was higher 0.13 per cent against a basket of six currencies in late afternoon trade.
Overseas, the dollar was higher against the euro and the yen in late Asian trade today as investors shed caution following signs that the European Central Bank may provide more stimulus and after a sharp recovery in Tokyo stocks.
Tag: US Dollars
Indian Rupee Recovers 0.57% Against Mighty US Dollar
Indian Rs Recovers 24 Paise Against U S $ in Early Trade
[Mumbai]Indian Rupee Recovers 24 Paise Against U S $ in Early Trade
The rupee recovered by 24 paise to 66.06 against the dollar in early trade today at the Interbank Foreign Exchange
This Is Due To increased selling of the US currency by exporters and banks amid higher opening in the domestic equity market.
Forex dealers said besides selling of the American unit by exporters and banks, weakness in the dollar against other currencies supported the rupee.Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.
Yesterday, the rupee had lost 27 paise to close at 66.30 on sustained dollar demand from banks and importers in view of persistent foreign capital outflows.
Meanwhile, the benchmark BSE Sensex rose by 184.23 points or 0.72 per cent at 25,666.75 in early trade.
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