Rupee recovers 12 paise Vs dollar

Tags: Rupee, News
Moving in line with equity market, the rupee today recovered by 12 paise to 60.08 against the American currency in early trade on fresh selling of dollars by banks and exporters due to weaker greenback overseas.

The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.

Renewed selling of dollars by banks and exporters in view of sharp recovery in the equity market mainly boosted the rupee, a forex dealer said.

Meanwhile, the benchmark Sensex recovered sharply by 265.05 points, or 1.06%, to 25,296.37 at 1000 hours.

In New York, the US dollar fell against the Australian dollar yesterday after a better-than-expected reading on Chinese manufacturing showed a return to expansion.

The Chinese manufacturing sector swung into growth territory in June, with the "flash" version of HSBC's China manufacturing purchasing managers index jumping to 50.8 from 49.4 in May. That's the first time since December that the HSBI PMI reading was above 50, which divides contraction and expansion.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sanskrit does not compare with German in the job market

    While there can be no argument that the importance of Sanskrit as an all-India language needs to be emphasised, particularly for the young generation

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Purnendu Ghosh

Why we must know the rules of the game

We like to believe that people are good and we ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture