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Forex dealers said weakness in the dollar against other currencies overseas supported the rupee. Further, a higher opening in the domestic equity market added to the upside.
The rupee recovered 19 paise to 67.25 against the dollar in early trade on Monday on increased selling of the US currency by exporters and banks amid a higher opening in the domestic stock market.
Forex dealers said weakness in the dollar against other currencies overseas supported the rupee. Further, a higher opening in the domestic equity market added to the upside.
On Friday, the rupee had lost 8 paise to close at 2-1/2 month low of 67.44 a dollar, falling for the seventh straight session, on persistent demand for the US currency from banks and importers amid higher crude oil prices and a fall in domestic stocks.
Meanwhile, the benchmark BSE Sensex recovered by 217.36 points, or 0.85 per cent, at 25,519.26 in early session on Monday.
Source: http://indianexpress.com/article/business/market/rupee-recoups-19-paise-against-dollar-at-67-25-2814706/#sthash.lFSUAMue.dpuf
