Rupee ends at 46.30/31 against dollar
The rupee today surged by 20 paise to nearly three-week high of 46.30/31 against the US currency with dollar plunging to 15-month low against its European rivals in overseas markets.
Dealers at the Interbank Foreign Exchange market said the rupee drew support mainly from weakness in dollar against a basket of currencies. The dollar fell to a 15-month low after indications that US interest rates will remain near zero for some time.
They said a rally in equity markets on the back of sustained capital inflows also helped the domestic unit to gain against the US currency.
The Indian benchmark Sensex today shot up 409 points or 2.49 per cent, while Asian indices closed in the positive terrain.
Rupee had surged by 2.0 per cent since November 4 but took a brief pause yesterday easing by five paise in line with downward correction in local stocks.
Rupee weakens against dollar
The Indian rupee depreciated by 17 paise to 47.24 against the dollar in early trade today as banks bought the currency (dollar) on behalf of importers and after the USD stabilised against a basket of currencies in Asian markets.
At the Interbank Foreign Exchange (Forex) market, the local unit, which had ended six paise costlier at 47.07/08 yesterday, fell further to quote at 47.24.
Besides the greenback strengthening against other Asian currencies, expectations of a weak opening in the equity markets, in tandem with other Asian bourses, affected the rupee sentiment, forex dealers said.
The Asian markets are trading low by 1.5 per cent in early trade today.
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