Rupee gains 37 paise against dollar on selling by exporters

  • PTI, Mumbai
  • |
  • Updated: Jun 28, 2013 10:41 IST

The rupee rose by 37 paise to Rs 59.82 against the dollar in early trade on the Interbank Foreign Exchange on Friday, extending Thursday's recovery on increased dollar selling by banks and exporters, and strong domestic equity market.

However, month-end demand from oil importers for the American currency limited gains.

Selling of dollars by exporters and some banks coupled with a higher opening in the equity market supported the local unit, traders said.

Euro's gain against the American currency overseas also supported the rupee, they said.

The BSE Sensex spurted by 292.94 points, or 1.55%, to trade above 19,000-point level at 19,168.89 in early trade on Friday.

The rupee had strengthened by 53 paise to close at Rs 60.19 per dollar on Thursday after the current account gap moderated sharply.


also read

As China falters, foreign investors put bets on India

blog comments powered by Disqus