Rupee recovers by 13 paise against dollar in early trade
Fresh selling of the US currency by banks and exporters helped the value of the rupee
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The rupee recovered from a 30-month low by rising 13 paise to 68.34 against the dollar at the Interbank Foreign Exchange in early trade today on fresh selling of the US currency by banks and exporters.
Dealers said fresh selling of the American unit by exporters and banks supported the domestic currency but dollar's strength against other currencies overseas, limited the rupee's gain.
Moreover, a higher opening in the domestic equity market also helped rupee to strengthen against the dollar, they said.
The rupee had plummeted to a 30-month low of 68.47 by falling 9 paise against the US dollar in a highly volatile trade yesterday.
Meanwhile, the benchmark BSE Sensex rose further by 308.81 points or 1.32% to trade at 23,690.68 in early deals.
Dealers said fresh selling of the American unit by exporters and banks supported the domestic currency but dollar's strength against other currencies overseas, limited the rupee's gain.
Moreover, a higher opening in the domestic equity market also helped rupee to strengthen against the dollar, they said.
The rupee had plummeted to a 30-month low of 68.47 by falling 9 paise against the US dollar in a highly volatile trade yesterday.
Meanwhile, the benchmark BSE Sensex rose further by 308.81 points or 1.32% to trade at 23,690.68 in early deals.
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First Published: Feb 18 2016 | 9:48 AM IST