The rupee surged by 19 paise to 45.05 against the US dollar in early trade at the Interbank Foreign Exchange on Tuesday on the back of fresh dollar-selling by exporters and corporates.
The local unit opened higher today at 45.14/15 per dollar against its previous close of 45.24/25.
It fell to a low of 45.30 a dollar during the course of morning deals, but made a smart recovery and appreciated by 19 paise against the American currency.
Forex dealers attributed the bolstered rupee sentiment to fresh dollar-selling by exporters and corporates.
The dollar was under pressure in the New York market yesterday as markets reacted to a short-term rate hike announced by China’s central bank.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.