| Date: |
12-08-2011 |
| Subject: |
Rupee Recovers Against U.S. Dollar in Early Trade |
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The Indian rupee, which dipped to a five-and-a-half month low in yesterday’s trade, recovered by 8 paise to Rs 45.33 against the US dollar in early trade on the Interbank Foreign Exchange today, boosted by a higher opening in the stock market and euro gains overseas.
However, sustained dollar demand from importers capped the rupee’s rise.
The rupee weakened by 16 paise to close at a five-and-a-half month low of Rs 45.41/42 against the dollar in the previous session due to sustained dollar demand from importers and weak stocks.
Forex dealers said a higher opening in the stock market and the euro’s rebound overseas mainly supported the Indian rupee recovery, but sustained dollar demand from importers restricted the rise.
The Bombay Stock Exchange benchmark Sensex shot up by 187.48 points, or 1.10 per cent, to 17,246.88 in opening trade today.
Source : thehindu.com
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