Rupee recoups 14 paise in early trade

PTI  | Deccan Chronicle

Business, Market

According to forec dealers weak dollar overseas also supported the rupee.

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Mumbai: The rupee made a comeback early on by recovering 14 paise to 64.49 against the dollar at the Interbank Foreign Exchange today after fresh selling of the US currency by exporters amid foreign fund inflows and a higher opening in the domestic equities market. Besides, a weak dollar overseas also supported the rupee, forex dealers said.

In the previous trading session on Tuesday, the rupee tumbled 32 paise to end at a fresh three-week low of 64.63 against the resurgent dollar amid frantic demand for the American unit from importers. This was the rupee's biggest single-day loss this year. Forex market remained closed yesterday on account of 'Buddha Purnima".

Meanwhile, the benchmark BSE Sensex rose 98.52 points, or 0.32 per cent, to hit yet another peak of 30,346.69 in opening trade today.