Rupee surges 19 paise against dollar in early trade on increased selling of US currency by exporters, banks
At the Interbank Foreign Exchange, the rupee opened on a strong note at 69.79 a dollar against the previous close of 70.14.
Mumbai: The rupee gained 19 paise against the US dollar Wednesday to trade at 69.95 after increased selling of the US currency by exporters and banks. However, a lower opening of the domestic equity markets capped the rise, dealers said.
At the Interbank Foreign Exchange, the rupee opened on a strong note at 69.79 a dollar against the previous close of 70.14. Further, the domestic unit surrendered early gains to quote at 69.95, showing a gain of 19 paise.
Financial markets were closed on Tuesday on account of Christmas.
On Monday, the rupee had recovered 4 paise to close at 70.14 against the American currency, following weak crude oil prices and the dollar's losses in global markets due to political uncertainty in the US.
Meanwhile, the benchmark BSE Sensex plunged over 350 points as investors turned jittery over political uncertainty in the US and fears of a global economic slowdown amid heavy selloff by foreign investors.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Snapping a four-session downturn, the rupee had appreciated by 23 paise to end at 71.11 against the US dollar on Wednesday.
Rupee sees high volatility against dollar post-Fed policy decision to leave key interest rates unchanged
The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.
The rupee touched a high of 70.44 per US dollar at 0926 hrs