Rupee gains back 8 paise

28-May-2015
Rupee gains back 8 paise

Breaking its three-day falling spree, the rupee recovered 8 paise to 63.93 against the U.S. dollar in early trade on Thursday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters.

Besides, forex dealers said, a higher opening in the domestic equity market propped up the rupee.

They said, however, month-end demand for the greenback from importers and the dollar’s strength against other currencies overseas restricted the gains.

The rupee had lost 3 paise against the dollar on Wednesday to end at two-week low of 64.01 on dollar demand from importers coupled with a stronger greenback overseas.

The benchmark BSE Sensex rose 95.06 points, or 0.34 per cent, to 27,659.72 in early trade on Thursday.

Source : thehindu.com

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