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Rupee recovers 4 paise to 68.84 against US dollar

Press Trust of India  |  Mumbai 

The recovered from its two-week low to trade 4 paise higher at 64.84 against American in late morning deals, on good bouts of dollar-selling by banks and exporters.

The opened lower at 68.91 from yesterday's closing level of Rs 68.88 at the interbank foreign exchange market here.

The Indian unit fell further to a fresh two week low of 68.93, before recovering to trade at 68.82 on bouts of selling from banks and exporters, it was trading at 68.84 at 1020 hrs.

The domestic unit hovered between 68.82 and 68.93 during morning deals.

However, continued US-trade war concerns and political uncertainty in the UK restricted the gains, a said.

Overseas, the US firmed against the basket of currencies in early Asian trade, while the pound stayed fragile after falling to an 11-month low against the overnight on worries over a hard Brexit from the European Union, while simmering US-trade tensions provided support to the greenback.

Meanwhile, the 30-share BSE Sensex was trading higher by 2.34 points, or 0.01 per cent, at 37,694.23 at 1050 hrs.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 07 2018. 10:55 IST