Indian rupee recovers 8 paise, trades at 63.02 against US dollar

Jan 28 2014, 11:56 IST
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The Indian rupee fell marginally by two paise to 63.12 against the dollar in early trade today at the Interbank Foreign Exchange market. Reuters The Indian rupee fell marginally by two paise to 63.12 against the dollar in early trade today at the Interbank Foreign Exchange market. Reuters
SummaryThe Indian rupee had lost 44 paise to close at 10-week low of 63.10 against the US dollar.

The rupee recovered by eight paise to 63.02 against the American currency in late morning trade today on fresh selling of dollars by banks ahead of the RBI policy meeting today amidst firm equity market.

The rupee resumed lower at 63.15 per dollar as against the yesterday's closing level of 63.10 at the Interbank Foreign Exchange (Forex) Market on initial demand for the US currency from banks and importers in view of strong dollar overseas.

However, it recovered afterwards to 62.98 on fresh selling of dollars by banks before quoting at 63.02 per dollar at 1045 hours.

It moved in a range of 62.98-63.18 per dollar during the morning deals.

In the New York market, the US dollar recovered from a nearly two-month low against the Japanese yen yesterday, even as the greenback remained vulnerable to major rivals amid heightened worries about risk in emerging markets.

Meanwhile, the Indian benchmark BSE Sensex firmed up by 47.19 points or 0.23 per cent in the late morning trade.

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