Millennium Post

snaps 4-day loss, up 37p vs $ to 52.68

The rupee snapped its straight four sessions of fall and also recovered its initial losses to end higher by 37 paise at 52.68 against the Greenback on smart recovery in local equities amid sustained capital inflows. Fresh dollar selling by exporters and some banks due to weak dollar overseas also aided the rupee rise.

At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced slightly weak at 53.09 a dollar from overnight close of 53.05 and immediately touched a low of 53.16 on continued dollar demand from importers and some weakness in local stocks at initial stages.

However, it bounced back since mid-session in line with recovery in domestic shares and touched a high of 52.63 before concluding at 52.68, showing a rise of 37 paise or 0.69 pct. In last straight four trading days, it had fallen by 131 paise or 2.53%. The Sensex on Thursday closed higher by 173.65 points or 0.93% after falling by 162.26 points or 0.86% on Wednesday.
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