Rupee recovers 35 paise to 49.26/27 vs dollar
The Indian rupee recovered on Thursday's losses and was up by 35 paise to close at a two and a half month high of 49.26/27 against the dollar in line with a smart rebound in local equity markets amid sustained capital inflows.
In active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed higher at 49.30/32 a dollar from its previous close of 49.61/62.
It later moved in the range 49.23-49.52 before closing the day at 49.26/27 a dollar. Firm trends in Asian equity markets, including India, mainly boosted rupee sentiment. The Indian benchmark Sensex ended higher by over 164 points or 1.37 per cent after yesterday's fall of about 178 points.
Asian indices also ended firm while European markets resumed better on the back of favourable Wall Street advice. The weakness of the dollar against most of the Asian currencies also helped rupee recovery.
Meanwhile, oil prices rose towards USD 58 a barrel today in Asia, extending gains to near six-month highs on investor expectations that global economic growth may begin to rebound by the end of the year.
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