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Forex »
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Rupee gains by 19 paise vs dollar in early trade
December, 28th 2010

The Indian rupee surged by 19 paise to 45.05 against the US dollar in early trade at the Interbank Foreign Exchange today on the back of fresh dollar-selling by exporters and corporates.

The local unit opened higher today at 45.14/15 per dollar against its previous close of 45.24/25.

It fell to a low of 45.30 per dollar during the course of morning deals, but made a smart recovery and appreciated by 19 paise against the American currency.

Forex dealers attributed the bolstered rupee sentiment to fresh dollar-selling by exporters and corporates.

The dollar was under pressure in the New York market yesterday as markets reacted to a short-term rate hike announced by China's central bank.

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