TH:Rupee recovers to 54.67 as euro strengthens against dollar
The rupee recovered to 54.67 against the dollar as the euro strengthened against the dollar to a six-week high.
The dollar weakened against the euro and few other currencies as optimism over Greece and strong Chinese manufacturing survey weighed on the American currency.
The Indian unit slipped 19 paise to 54.93 after opening almost flat at 54.78 against the dollar (from Monday’s close of 54.77) in early trade on the back of strengthening of dollar and mild dollar demand from importers.
Amid expectations of volatile trade, traders will eye the crucial vote on foreign direct investment in multi-brand retail in Parliament due on Wednesday, which will be a critical determinant for the rupee's direction in the medium term.
At 2.10 pm, the currency was trading higher at 54.68 against the dollar.
Dollar demand from importers and Parliament logjam will continue to put pressure on the rupee.
