PJ:Rupee recovers 8 paise, trades at 63.02 Vs dollar
Mumbai: The rupee recovered by eight paise to 63.02 against the American currency in late morning trade on Tuesday on fresh selling of dollars by banks ahead of the RBI policy meeting amidst firm equity market.
The rupee resumed lower at 63.15 per dollar as against Monday’s closing level of 63.10 at the Interbank Foreign Exchange (Forex) Market on initial demand for US currency from banks and importers in view of strong dollar overseas.
However, it recovered afterwards to 62.98 on fresh selling of dollars by banks before quoting at 63.02 per dollar at 1045 hours. It moved in a range of 62.98-63.18 per dollar during the morning deals.
In the New York market, US dollar recovered from a nearly two-month low against the Japanese yen on Monday, even as the greenback remained vulnerable to major rivals amid heightened worries about risk in emerging markets. Meanwhile, the Indian benchmark BSE-30 share index Sensex firmed up by 47.19 points or 0.23 percent in the late morning trade.
