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Rupee recovers 4 paise
MUMBAI:
The rupee bounced back partly against the U.S. currency on renewed exporter dollar sales amid a retreating dollar overseas even as demand from oil corporates and importers limited the gains in moderately active trading at the interbank foreign exchange market.
Resuming distinctly firm at 46.18/19 a dollar, the rupee hit a peak of 46.1750/1850 before settling at 46.21/22 at close, a four paise recovery from Thursday's close of 46.25/26. It had declined by seven paise in the last two sessions due to sustained dollar demand amid a robust global dollar.
An overnight retreating dollar overseas led to fresh exporter dollar sales and unwinding of long dollar positions by banks, which helped the rupee touch a high of 46.1750/1850.
PTI
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