Following the equity markets, the rupee closed lower by 10 paise against the US currency. In fairly active trade at the Interbank Foreign Exchange market, the rupee resumed at 48.38/40 a dollar from previous close of 48.42/44 and improved further to a high of 48.25 on account of a smart rise of nearly 307 points in the morning deals.
The forex dealers said that there was selling pressures of dollars from the exporters in early trade as the US currency was lower in Asia in the morning after Federal Reserve Chairman Ben Bernanke expressed a cautious view about the US economy that helps the rupee to recover losses.
However, a sudden bout of selling in equities weighed on the rupee and it fell to 48.63 per dollar. Later it later settled at 48.52/53 a dollar. The rupee closed down by 22 paise on Tuesday.
The forex dealers said that there was selling pressures of dollars from the exporters in early trade as the US currency was lower in Asia in the morning after Federal Reserve Chairman Ben Bernanke expressed a cautious view about the US economy that helps the rupee to recover losses.
However, a sudden bout of selling in equities weighed on the rupee and it fell to 48.63 per dollar. Later it later settled at 48.52/53 a dollar. The rupee closed down by 22 paise on Tuesday.
No comments:
Post a Comment