Thursday, 26 April 2018

Rupee recovers from 14-month low in opening trade, up 11 paise against US dollar


The rupee recuperated from 14-month low to exchange higher by 11 paise at 66.79 against the US dollar in opening session today on crisp offering of the dollar by exporters and banks in the midst of higher opening in residential value showcase. Forex merchants said other than offering of the American money by exporters and banks, shortcoming in the dollar against different monetary forms abroad upheld the rupee.

Further, a higher opening in the household value advertise affected the rupee uptrend, they included.

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

The local cash had tumbled 52 paise to hit a 14-month low of 66.90 against the US dollar, the third greatest single-day fall for the residential money this year, in the midst of surging rough costs combined with headwinds on the large scale monetary front in type of enlarging exchange shortage.

In the interim, the benchmark BSE Sensex recuperated by 57.

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