Rupee rebounds to 62.62 on sustained dollar selling, capital inflows…

Advertisement

The rupee gained 56 paise to quote at 62.62 against the dollar at 3.45 pm local time on continued dollar selling by banks and exporters and heavy capital inflows into the domestic equity market.

After opening flat at 63.18, the domestic unit hovered in the range of 62.59 and 63.20 in the afternoon trade.

Forex dealers said besides continued selling of the American currency by exporters and banks, rally in the domestic equity market supported the rupee, but the dollar’s strength against other currencies overseas limited the gains. The rupee had bounced back by 40 paise in its sharpest single-day gain in three weeks to end at 63.18 against the greenback in yesterday’s trade.

Meanwhile, the benchmark BSE Sensex was trading higher by 357.30 points at 27,266.12.

Related Articles:

StriveBlue Home|Clings Bookmark |Poompugar Shoppings