Friday, June 5, 2009

Rupee recovers at 47.13 per USD

Breaking the downward trend of the last three days, the Rupee today opened up by seven paise at 47.13 because of firm trading in the stock market.

A narrow fluctuation was seen in Rupee as it recorded its high at 47.15 and low at 47.07 per USD.

Dealers said that an improvement seen today was owing to heavy dollar buying in anticipation of increased capital inflow through foreign funds.

Besides banks selling dollars in anticipation of capital inflow in equities, Asian currencies trading strong against the greenback in the overseas markets was a reason for the rupee to strengthen, dealers added.

The rupee had ended weak by 13 paise at 47.20/21 yesterday.

In the last three days Rupee has slid by 24 paise.

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