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  Business   Market  26 Apr 2018  Rupee up 11 paise against dollar in early trade

Rupee up 11 paise against dollar in early trade

PTI
Published : Apr 26, 2018, 9:33 am IST
Updated : Apr 26, 2018, 9:33 am IST

Rupee is trading at 66.79 against dollar in opening session on fresh selling of the dollar by exporters.

A higher opening in the domestic equity market influenced the rupee uptrend. (Photo: PTI)
 A higher opening in the domestic equity market influenced the rupee uptrend. (Photo: PTI)

Mumbai: The rupee recovered from 14-month low to trade higher by 11 paise at 66.79 against the US dollar in opening session on Thursday on fresh selling of the dollar by exporters and banks amidst higher opening in domestic equity market.

Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee.

Further, a higher opening in the domestic equity market influenced the rupee uptrend, they added. The rupee opened higher by 2 paise at 66.88 against the US dollar at the Interbank Foreign Exchange market.

The domestic currency had tumbled 52 paise to hit a 14-month low of 66.90 against the US dollar, the third biggest single-day fall for the domestic currency this year, amid surging crude prices coupled with headwinds on the macro-economic front in form of widening trade deficit.

Meanwhile, the benchmark BSE Sensex recovered by 57.35 points, or 0.16 per cent, at 34,558.62 in early trade on Thursday.

Tags: rupee, dollar, american currency, indian currency
Location: India, Maharashtra, Mumbai (Bombay)