Facebook Pixel Code

Indian Rupee gains 10 paise against US dollar on fresh selling of American currency

The Indian rupee recovered by 10 paise at 62.57 against the US dollar today at Interbank Foreign Exchange on fresh selling of the American currency by exporters.

Indian rupee VS Us dollar
One reason the impact might be more subdued this time is because arrears will be be paid for just six or seven months whereas the last time arrears were paid for nearly three years (January 2006-September 2008), estimated at around Rs 44,000 crore. (Reuters)

The Indian rupee recovered by 10 paise at 62.57 against the US dollar today at Interbank Foreign Exchange on fresh selling of the American currency by exporters.

The local currency had lost 26 paise to close at 62.67 yesterday due to renewed month-end demand from the dollar from importers.

Forex dealers said besides fresh selling of the American currency by exporters, a higher opening in the domestic equity market supported the rupee but the dollar’s strength against other currencies overseas, capped the gains.

Meanwhile, the benchmark BSE Sensex rose by 106.25 points, or 0.37 per cent, at 28,082.11 in early trade.

Get live Share Market updates, Stock Market Quotes, and the latest India News and business news on Financial Express. Download the Financial Express App for the latest finance news.

First published on: 31-03-2015 at 09:42 IST
Market Data
Market Data
Today’s Most Popular Stories ×