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Rupee Snaps 9-Day Losing Run, Recoups 20 Paise Against Dollar

Reversing its nine-day losing trend, the rupee on Wednesday recovered 20 paise to 67.55 against the US dollar in early trade on fresh selling of the American currency by exporters and banks amid a higher opening in the domestic stock markets.
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Rupee Snaps 9-Day Losing Run, Recoups 20 Paise Against Dollar
Mumbai: Reversing its nine-day losing trend, the rupee on Wednesday recovered 35 paise to 67.40 against the US dollar in early trade on fresh selling of the American currency by exporters and banks amid a higher opening in the domestic stock markets.

Forex dealers said weakness in the dollar against other currencies overseas also supported the rupee.

On Tuesday, the rupee had lost 26 paise, or 0.39 per cent, to end at a fresh 2-1/2 month low of 67.75 on sustained demand for the American currency.

Meanwhile, the benchmark BSE Sensex surged by 304.86 points, or 1.20 per cent, at 25,610.33 in early session on Wednesday.


 

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