Rupee recovers 12 paise Vs dollar

Tags: 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.

EDITORIAL OF THE DAY

  • Annual reports make sense only if accountable governance is in place

    It’s a sign of a lack of imagination to expect an annual report by a party in power to pull out some impressive performance given the complex nature

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture