Rs snaps 2-day fall, regains 11 p to reach 54.95 per $
25 Dec 2012 5:52 AM IST
The rupee snapped its two-session losing string and appreciated by 11 paise to close at 54.95 against the Greenback on fresh dollar selling by exporters amid sustained capital inflows. Weak dollar overseas also boosted the rupee sentiment, while some hesistancy in local equities following Christmas holiday mood checked the rupee rise, a dealer said.
At the Interbank Foreign Exchange market, the domestic unit commenced slightly lower at 55.10 a dollar from last Friday's close of 55.06 and touched a low of 55.21 on renewed dollar selling by exporters and fall in US dollar overseas on concerns over the fiscal cliff by year-end.
The rupee later recovered on late dollar demand from importers, mainly oil refiners, to meet their month-end dollar requirements and touched a high of 54.9450 before settling at 54.95, a net gain of 11 paise or 0.20 per cent. In last two sessions, it had dipped by 51 paise or 0.93 per cent.
At the Interbank Foreign Exchange market, the domestic unit commenced slightly lower at 55.10 a dollar from last Friday's close of 55.06 and touched a low of 55.21 on renewed dollar selling by exporters and fall in US dollar overseas on concerns over the fiscal cliff by year-end.
The rupee later recovered on late dollar demand from importers, mainly oil refiners, to meet their month-end dollar requirements and touched a high of 54.9450 before settling at 54.95, a net gain of 11 paise or 0.20 per cent. In last two sessions, it had dipped by 51 paise or 0.93 per cent.
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