Rupee recovers 12 paise Vs dollar

Tags: Rupee, News
Moving in line with equity market, the rupee today recovered by 12 paise to

RELATED ARTICLES

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E-mail ID will not be published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

  • Child abuse needs to be tackled with the seriousness it deserves

    The Bangalore rape case has again brought into focus an issue we Indians forever shy away from facing up to — child sexual abuse.

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

Varun Dutt

<b>Riskfactor</b>: THE BASE RATE BIAS

Base rate fallacy, also called base rate neglect or base ...

Parvez Imam

Revisiting history can do us all good

We often think that we understand history. We read it ...

Bubbles Sabharwal

Your happiness doesn’t depend on your needs

They are two different words (and even worlds) altogether: having ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture