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Rupee Recovers from 14-Month Low in Opening Trade, up 11 Paise Against US Dollar

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

PTI

Updated:April 26, 2018, 9:34 AM IST
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Rupee Recovers from 14-Month Low in Opening Trade, up 11 Paise Against US Dollar
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Mumbai: The rupee recovered from 14-month low to trade higher by 11 paise at 66.79 against the US dollar in opening session on Thursday on fresh selling of the dollar by exporters and banks amidst higher opening in domestic equity market.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added.

The rupee opened higher by 2 paise at 66.88 against the US dollar at the Interbank Foreign Exchange market.

The domestic currency had tumbled 52 paise to hit a 14-month low of 66.90 against the US dollar, the third biggest single-day fall for the domestic currency this year, amid surging crude prices coupled with headwinds on the macro-economic front in form of widening trade deficit.

Meanwhile, the benchmark BSE Sensex recovered by 57.35 points, or 0.16 per cent, at 34,558.62 in early trade on Thursday.
(Get detailed and live results of each and every seat of the state Assemblies in Madhya Pradesh, Rajasthan, Telangana, Chhattisgarh and Mizoram to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you put on the psephologist's hat. Know interesting facts and trivia about the elections. Elections = News18)
| Edited by: Nitya Thirumalai
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