Mumbai, India (BBN) – The rupee staged a mild recovery of 8 paisa to 68.16 against the dollar at the forex market following fresh selling of the US currency by banks and exporters.
Forex dealers said the dollar’s weakness against some currencies overseas and a better trend in the domestic equity market supported the local currency, reports The Hindu Business Line.
The rupee had lost 18 paisa to close at a 4-week low of 68.24 in yesterday’s trade on month-end dollar demand from importers coupled with sustained foreign capital outflows.
Meanwhile, the benchmark BSE Sensex was up 38.76 points, or 0.15 per cent, at 26,249.44 in early trade.