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Rupee gains 13 paise against US dollar

At 11.30 pm, the rupee was trading 13 paise or 20% lower against the US dollar at 67.72.

business Updated: May 30, 2018 11:57 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
Rupee,US dollar,Rupee vs dollar
On Tuesday, the rupee fell 43 paise to end at 67.86 due to heavy month-end dollar demand from importers.(Reuters File Photo)

The rupee recovered from its initial losses to trade higher by 13 paise at 67.72 against the greenback in late morning deals following sustained bouts of dollar-selling from banks and exporters despite lower equities.

The domestic unit witnessed volatility and was trading between a high of 67.60 and low of 67.90 during morning deals, it was trading at 67.72 per dollar at 11.30 pm.

Rupee remained under pressure on sustained foreign funds outflows, increased month-end dollar demand and surging dollar amid Italian political crises.

“RBI’s selling through banks lifted the rupee sentiment,” a dealer said.

Meanwhile, the US dollar climbed against against basket currencies in early Asian trade, while the euro was buried near multi-month lows against major rivals as Italy’s political crisis deepened.

The benchmark BSE Sensex was trading 162.57 points or 0.47% lower at 34,786.67 at 11.32 pm on Tuesday.

First Published: May 30, 2018 11:37 IST