Rupee recovers by 13 paise to 64.25 on fresh dollar selling

PTI

The rupee recovered 13 paise to 64.25 against the US dollar in early trade at the Interbank Foreign Exchange market today on fresh selling of the American currency by exporters and banks.

Besides, a firm domestic equity market and fresh bout of foreign fund inflows kept the domestic unit in high spirits, forex dealers said.

However, the dollar’s recovery against some currencies overseas on a strong US jobs report restricted the rupee’s upmove.

On Friday, the rupee plunged 20 paise to end at a fresh two-week low of 64.38 against the US dollar as a massive fall in local equities amid heightened global volatility took a toll on the currency market.

Meanwhile, the benchmark BSE Sensex bounced 78.22 points or 0.26 per cent to 29,937.02 in early trade.

(This article was published on May 8, 2017)
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