scorecardresearch
Follow Us:
Thursday, June 30, 2022

Rupee rises 19 paise on stock rebound

Capital inflows continued to aid the rupee's rise,although a strong dollar overseas capped the gains.

Written by PTI | New Delhi |
November 15, 2013 3:00:20 am

The rupee appreciated another 19 paise to 63.11 against the dollar today as local stocks made a strong recovery and exporters sold the US currency.

The rupee,which rose to a high of 62.95,gained for the second day after RBI Governor Raghuram Rajan sought to reassure investors,saying there is no fundamental reason for the currency to fall again. He also pegged the CAD at a lower level than estimated earlier.

Capital inflows continued to aid the rupee’s rise,although a strong dollar overseas capped the gains.

The rupee resumed higher at 63.15 a dollar from the previous close of 63.30 at the interbank foreign exchange market and improved to a high of 62.95 as local stocks rose.

Best of Express Premium
Newsmaker | Eknath Shinde: No. 2 after the Thackerays, backer of BJP, MVA...Premium
UPSC Key-June 30, 2022: Why to read ‘Collective Responsibility’ or ‘Inver...Premium
TN Finance Minister Palanivel Thiaga Rajan: ‘Don’t know of a ...Premium
Efforts to estimate poverty from 2011-21 are commendable, given absence o...Premium

The rupee dropped to a low of 63.34 and closed at 63.11,a rise of 19 paise or 0.30 per cent. Yesterday,it had gained 41 paise. The local currency fell for the fifth straight week,losing 64 paise.

UPSC KEY Have you seen our section dedicated to helping USPC aspirants decode daily news in the context of their exams?

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest News Archive News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement