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`Rs rises by 19p to 60.49 per $

Fall in the dollar value overseas on news that Russia and Ukraine on Wednesday agreed on a cease-fire and cheerful local equities helped the Indian rupee to break its four-session of losing string, recovering by 19 paise to close at 60.49 against the Greenback.

Sustained portfolio investments and exporters -who were long on USD on hopes of further rise in dollar value- sold dollars on receding geo-political worries after Ukraine’s President and Russian President discussed the pease process also helped the rupee’s rebound.

At the Forex market, the domestic unit commenced better at 60.64 a dollar from previous close of 60.68 and immediately touched a low of 60.69. 

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