Rupee recovers to 64.61 on dollar selling

The rupee recovered by 7 paise to 64.61 against the dollar in early trade at the Interbank Foreign Exchange market today on increased selling of the US currency by exporters and banks.

Forex dealers said fresh foreign fund inflows and the dollar's weakness against a few currencies overseas supported the rupee. The rupee uptrend was also supported as domestic equities hit another record high in early trade.

Yesterday, the rupee had slipped from the six-week high level to close at 64.68, down 13 paise, on fresh demand for the American currency from banks and importers.

Meanwhile, the benchmark BSE Sensex advanced 122.44 points, or 0.36 per cent to hit an all-time high of 33,853.63, breaching its previous intraday record of 33,848.42, reached yesterday.

Source:- Thehindubusinessline.com