Indian rupee rebounds by 14 paisa against US dollar

The Hindu Business Line file photo

Mumbai, India (BBN)– The Indian rupee recovered by 14 paisa to 64.49 against the dollar at the Interbank Foreign Exchange market on Thursday on fresh selling of the US currency by exporters amid foreign fund inflows.
Besides, dollar’s weakness overseas also supported the rupee, according to forex dealers.
In the previous trading session on Tuesday, the rupee had tumbled 32 paise to end at a fresh three-week low of 64.63 against the dollar due to frantic demand for the American unit from importers. This was the rupee’s biggest single-day loss this year, reports PTI.
Forex market had remained closed on Wednesday on account of ’Buddha Purnima“.
Meanwhile, the benchmark BSE Sensex rose 98.52 points or 0.32 per cent to hit yet another peak of 30,346.69 in the opening trade.

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