Rupee gains 21 paise against US dollar in opening trade | business | Hindustan Times
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Rupee gains 21 paise against US dollar in opening trade

business Updated: Aug 29, 2011 10:13 IST

The Indian rupee rose sharply by 21 paise to Rs 45.94 per US dollar in early trade on the Interbank Foreign Exchange on Monday amid dollar weakness against a basket of other Asian currencies overseas and a rebound in the domestic stock market.


orex dealers said dollar weakness against other major Asian currencies overseas and a strong recovery in the domestic stock market in early trade on Monday helped the rupee to strengthen, but some month-end dollar demand from importers capped the gains.

The rupee had ended 11 paise lower at Rs 46.15/16 against the US dollar in the previous session on Friday due to sustained demand for the American currency from importers amid distinctly weak equities.

Meanwhile, the Bombay Stock Exchange Sensex recovered sharply by 326.37 points, or 2.06%, to 16,175.20 in early trade on Monday.