Rupee recovers 13 paise against dollar in early trade

A day after losing 16 paise against the American currency, the rupee recovered by 13 paise to 64.53 against the US dollar in early trade on Wednesday on account of fresh selling of the dollar by banks and exporters.

Rupee recovers 13 paise against dollar in early trade

The rupee recovered 13 paise to 64.53 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange market on fresh selling of the American currency by banks and exporters.

Forex dealers said a higher opening in the domestic equity market, which soared to a new high, and a weakening dollar against some other currencies overseas supported the rupee.

ALSO READ: Rupee likely to trade in narrow range of 64.10 to 64.80 this week

On Tuesday, the rupee had lost 16 paise to end at 64.66 against the US dollar due to sustained demand for the greenback from banks and importers.

Meanwhile, the benchmark BSE Sensex rose 74.28 points, or 0.23%, to hit yet another new high of 31,233.68 in early trade on Wednesday. 

ALSO READ: Rupee appreciation likely to hurt margins of TCS, Infosys, others in Q1 FY18: Experts

Written By: PTI
Updated: Wed, May 31, 2017
09:47 AM IST
Mumbai , PTI
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