Rupee recovers in late morning deals, up 5 paise

  • PTI, Mumbai
  • Updated: Aug 12, 2014 14:36 IST

The rupee recovered on Tuesday against the American currency by five paise to 61.12 in late morning deals on bouts of dollar selling by exporters.

Earlier the rupee resumed weak on sustained bouts of dollar demand at 61.22 as against the last closing level of 61.17 at the Interbank Foreign Exchange (Forex) Market.

Later it gained on dollar selling and was quoted 61.12 per dollar at 10:20am.

It moved in a range of 61.11 and 61.22 per dollar during the morning trade.

Crude oil prices fell in Asia on Tuesday on easing concerns about supply disruptions arising out of conflicts in Ukraine and Iraq.

In New York Market, the US dollar also moved up against its major rivals late on Monday as investor concerns about geopolitical conflicts eased.

Meanwhile, the benchmark BSE Sensex was trading higher by 150.53 points or 0.59% to 25,669.77 at 10:30am.

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