Advertisement

HindustanTimes Fri,18 Apr 2014

Rupee trims initial gains vs dollar, still up 9 paise

PTI  Mumbai, February 06, 2014
First Published: 09:35 IST(6/2/2014) | Last Updated: 12:34 IST(6/2/2014)

Moving in line with equity market, the rupee trimmed its initial gains against the green currency but was still quoted higher by nine paise to 62.48 per dollar on selling of the American unit by banks and exporters in view of dollar weakness overseas.

Advertisement

The rupee resumed higher at 62.40 per dollar as against the last closing level of 62.57 per dollar at the Interbank Foreign Exchange (Forex) Market and firmed up further to 62.38 per dollar on initial selling of dollars by banks.

However, it trimmed its initial gains and was quoted at 62.48 per dollar at 10:45am on some dollar demand from banks.

It hovered in a range of 62.38-62.51 per dollar during the morning deals.

In New York, the dollar fell against the euro and yen on Wednesday as investors analysed data on US private-sector jobs and service-sector expansion in an effort to get a better sense of US growth in 2014.

Meanwhile, the Indian benchmark benchmark sensex dropped 120.65 points or 0.60% to 20,140.38 at 10:45am.

Advertisement
more from Business

Rajat Gupta to surrender on June 17 in insider trading case

Gupta was convicted in June 2012 on securities fraud and conspiracy charges for having fed tips, from Goldman board meetings in the second half of 2008, to longtime friend Raj Rajaratnam, founder of the Galleon Group hedge fund firm.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved