Rupee gains 60 paise vs dollar in early trade on RBI measures

The rupee today recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the RBI tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.

Updated on: May 10, 2012, 10:52:27 IST

PTI | By HT Correspondent, Mumbai

Prefer HTon Google

Share via

Copy link

The rupee on Thursday recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.

Dealers said besides measures announced by the RBI to check outflow of forex, euro's gains against the US dollar overseas and a higher opening in the domestic equity market helped the rupee to recover from all-time low.

The rupee closed at all-time low of Rs. 53.84, losing a hefty 72 paise against the dollar on Wednesday due to sustained demand for the US currency which rose sharply against major rivals.

Meanwhile, the BSE benchmark Sensex recovered by 151.44 points, or 0.92%, to 16,631.02 in early trade on Thursday.

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.