Rupee gains 19 paise against dollar in early trade

Forex dealers said weakness of dollar against other currencies overseas and a higher opening in the domestic equity market also boosted the trading sentiment.

By: PTI | Mumbai | Published:November 16, 2016 9:50 am
Rupee, rupee value, currency, currency value, currency fall, currency rise, US dollar, indian currency, indian economy, business news, indian express news On Tuesday, the rupee tumbled by 49 paise to end at near five-month low of 67.74 following frantic demand for the American currency amid heavy capital outflows.

Reversing its two-day fall, the rupee recovered by 19 paise to 67.55 against the US dollar in early trade on Wednesday on fresh selling of the American currency by banks and exporters. Forex dealers said weakness of dollar against other currencies overseas and a higher opening in the domestic equity market also boosted the trading sentiment. Besides, the retail inflation declining to 14-month low of 4.2 per cent in October also helped in lifting the mood.

On Tuesday, the rupee tumbled by 49 paise to end at near five-month low of 67.74 following frantic demand for the American currency amid heavy capital outflows. Meanwhile, the benchmark BSE Sensex rebounded by 316.77 points or 1.20 per cent to 26,621.40 in early trade.