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Forex »
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Rupee recovers six paise as equity markets surge
June, 16th 2008

The rupee recovered by six paise to 42.88/89 against dollar in the morning trade today amid surging in Asian equity markets and easing global crude oil prices.

At the Interbank Foreign Exchange (Forex) market, the domestic currency resumed higher at 42.90/92 a dollar from its previous close of 42.94/95 a dollar and later improved to 42.88/89 a dollar in late morning deals.

A bounce in stock markets and a fall in crude prices boosted the rupee sentiment, dealers said.

Asian indices including the Indian benchmark Sensex rallied sharply during the morning trade.

Global crude oil prices were quoted at around USD 134 a barrel in Asian trade today.

 
 
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