LM:Rupee at 62.24 against the dollar in afternoon trade
Mumbai: The Indian rupee strengthened 0.43% against the US currency in intraday trading as the dollar weakened in overseas markets.
At 2.30pm, the local currency was trading at 62.2487, up from its previous close of 62.515. The rupee had opened at 62.455 a dollar in the morning.
Currency dealers said the Reserve Bank of India (RBI) was not seen in the market but some foreign banks sold dollars.
Since January, the rupee has weakened 11.65% and is the third biggest loser in Asia after the Indonesian rupiah and the Japanese yen.
The dollar index, which measures the US currency’s strength against major global currencies, was trading at 80.618, against its previous close of 80.611.
The 30-share BSE Sensex lost 0.09% to 20,405.70 points while the National Stock Exchange’s (NSE’s) broader 50-share Nifty index shed 0.21% to 6,046.65 points.
The yield on the 10-year government bond was at 8.712%, from its previous close of 8.742%. The interbank call money rate was at 8.6%.
