Forex

Rupee recovers by 14 paise to close at 68.10

Agencies Mumbai | Updated on January 16, 2018 Published on December 29, 2016

rupee

Snapping two days of losses, the rupee today recovered by 14 paise to close at 68.10 per dollar on fresh selling of the US currency by banks and exporters in view of weakness in greenback overseas amid a revival in domestic equities.

The domestic currency opened flat at yesterday’s closing level of 68.24 at the Interbank Foreign Exchange market and declined immediately to 68.25 on month—end dollar demand from importers.

However, it recovered to 68.0575 in the afternoon trade on fresh selling of dollars due to lower dollar in overseas market as well as recovery in the equity market, before ending at 68.10, showing a gain of 14 paise.

The rupee had lost 18 paise to close at a 4-week low of 68.24 in yesterday’s trade on month-end dollar demand from importers coupled with sustained foreign capital outflows.

Meanwhile, the 30-share BSE index Sensex ended higher by 155.47 points or 0.59 per cent at 26,366.15.

In the overseas market, the dollar sagged against the yen on Thursday, weighed down by US yields slipping to two-week lows and an ebb in risk appetite that favoured the safe-haven Japanese currency.

The dollar was down 0.4 per cent at 116.800 yen, having come down from a high of 117.815 touched overnight.

Published on December 29, 2016
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