Rupee ends higher by 17 paise vs dollar on recovery in equities
The rupee strengthened by 9 paise at 64.08 against the US dollar in early trade Wednesday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters. The benchmark BSE Sensex also regained the 27,000 mark by surging 340.45 points or 1.27%, to 27,217.93.business Updated: May 13, 2015 19:01 IST
The rupee ended higher by 17 paise to 64.00 against the American currency on fag-end selling of dollars by banks and exporters on the back of strong recovery in the equity market.
The rupee resumed lower at 64.20 per dollar against Tuesday's closing level of 64.17 at the Interbank Foreign Exchange (Forex) Market on initial dollar demand from banks and importers.
However, it recovered afterwards to 63.94 per dollar on selling of dollars by banks and exporters in view of recovery in the equity market, before concluding at 64.00, disclosing a gain of 17 paise or 0.26%.
The rupee had dropped by 32 paise or 0.50% on Tuesday.
It hovered in a range of 63.9400 and 64.2150 during the day.
The dollar index was trading down 0.10% against its major global rivals.
In New York market, the dollar traded lower against most of its rivals yesterday after two sessions of marginal gains, as US treasury yields turned lower and a Greek debt payment to the IMF supported the euro.
The Indian benchmark Sensex ended higher by 373.62 points or 1.39% Wednesday. It had ended lower by 629.82 points of 2.29% on Tuesday.