Rupee edges up on sustained capital inflows

Tags: News
The rupee today recovered by 6 paise to trade at 60.11 against the US dollar in early trade on Interbank Foreign Exchange market amidst sustained foreign capital inflows.

Increased selling of the dollar by banks and exporters amidst sustained inflows of foreign funds supported the rupee, dealers said.

Besides, a higher opening in the domestic equity market also helped the rupee.

Dollar's gain against other currencies overseas, however, capped the rise, they added.

The rupee fell by nine paise to end at 60.17 against the dollar in yesterday's trade following month-end demand from importers for the American currency.

Meanwhile, the benchmark BSE Sensex rose 103.87 points, or 0.41%, to trade at 25,517.65 in early trade.

EDITORIAL OF THE DAY

  • India must move one level higher and be the exporter of electronics to the world

    INDIA hopes to achieve net zero-import balance in the electronics industry over the next three years.

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