The rupee was up by 19 paise at Rs 49.10 per US dollar in early trade today on fresh selling of dollars by banks and exporters amid weakness of the American currency in the overseas markets, coupled with a firming trend in the equity market.
The rupee resumed higher at Rs 49.12/13 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 49.29/30 per dollar, and moved up further to Rs 49.10 per dollar before quoting at Rs 49.19/20 per dollar at 10.30 a.m.
The domestic currency moved in a range between Rs 49.10 and Rs 49.23/dollar during morning deals.
The US dollar lost ground against the euro in the New York market yesterday, a turnaround analysts attributed to a report in the Guardian saying France and Germany have agreed to a €2 trillion rescue fund as part of a comprehensive plan to resolve Europe’s sovereign debt crisis.
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.