Rupee rebounds by 9 paise against US dollar
Greece and an upbeat Chinese manufacturing survey undercut its safe-haven appeal, while the euro rose to a six-week high versus the US currency.
Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said, "The rupee transformed its losses of the first half into solid gains towards the second half on rising foreign capital inflows and a equally firm domestic equity markets".
Meanwhile, rating agency Moody's maintained its negative outlook on the Indian banking sector.
The premium for the forward dollar closed slightly lower on stray receipts by exporters.
The benchmark six-month forward dollar premium payable in May softened to 169-171 paise from last close of 170-171-1/2 paise.
Far-forward contracts maturing in November also eased to 316-318 paise from 317-319 paise.
The RBI has fixed the reference rate for the US dollar at 54.9473 and for euro at 71.7100.
The rupee declined further against the pound sterling to 88.12 from Monday's close of 87.96 and also remained weak to end at 71.49 per euro from 71.35.
It, however, recovered slightly against the Japanese yen to 66.67 per 100 yen from last close of 66.71.
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