Rupee gives up early gains against dollar | business | Hindustan Times
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Rupee gives up early gains against dollar

The rupee gave up early gains against the dollar today but was still up 14 paise at 55.01 a dollar as banks and exporters sold the American currency amid inflows from foreign funds into the equity market.

business Updated: Aug 20, 2012 13:40 IST

The rupee gave up early gains against the dollar on Monday but was still up 14 paise at 55.01 a dollar as banks and exporters sold the American currency amid inflows from foreign funds into the equity market.

The rupee resumed stronger at 54.90 a dollar, against the last weekend's close of 55.15, at the Interbank Foreign Exchange (Forex) market. It moved between 55.04 and 54.76 before quoting at 55.01 a dollar at 10.50 am.

Dealers said recent capital inflows from foreign funds into the equity markets boosted the rupee value against the dollar.

The BSE 30-stock index, Sensex, was quoted slightly higher by six points of 0.03% at 5 am, although it erased most of it early gains.

In New York market, the euro was quoted lower against the dollar.