AA:Rupee recovers by 9 paise to 61.81 vs dollar in late morning
In line with equity market, the rupee recovered by nine paise to 61.81 against the American currency in the late morning trade on fresh selling of dollars by banks and exporters on expectation of more funds in view of recovery in the stock market.
The rupee opened steady at 61.90 per dollar at Wednesday’s closing level at the Interbank Foreign Exchange (Forex) Market. However, it immediately firmed up to 61.74 per dollar before quoting at 61.81 per dollar at 1045hrs.
It hovered in a range of 61.74-61.92 per dollar during the morning deals.
Banks and exporters preferred to reduce their dollar position on hopes of more capital inflows into equity market, a forex dealer said.
The Indian benchmark sensex rose by 161.81 points or 0.77 per cent to 21,302,29 at 1045hrs.
Meanwhile, crude oil prices edged higher in Asian trade on Thursday as investors anticipated upbeat US stockpiles data, and grew more optimistic about the world’s top economy, analysts said.
