Business   

Rupee recovers

MUMBAI : The rupee made a dramatic turnaround after a weak beginning on Thursday and recovered by 14 paise to 46.56/57 a dollar after Bank of England raised interest rate by 25 basis point.

In an otherwise listless trading at the Interbank Foreign Exchange market, the rupee bounced back from the low of 46.78 level during the concluding 39 minutes as the Great Briton pound appreciated against the dollar following a rate hike, according to a leading banker.

The rupee value eroded by about 15 paise in the last two trading sessions. — PTI

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

General Motors to invest $300 m in Maharashtra car plant
IBM bags $100 million deal from Bharti Airtel
Ban partially lifted on sugar exports
U.S. FDI to touch $1 b
Helion Venture Partners launches $140 m fund
CTS draws up a succession plan
PDS kerosene diverted to black market: study
IGI Airport under DIAL control
CAs can start management consultancy companies
Rupee recovers
Sensex returns to 11000-mark
Exchange rates
Bullion rates
Excise exemption for hilly states extended
Caparo India, Itochu to set up JV
U.S. court rules in favour of Ranbaxy
Canara Bank regional office upgraded
Regus takes up space in Citi Centre
Dynamic Vertical launches retail solutions
Owens & Saint-Gobain to merge some businesses
Wheels India maintains sales in Q1
Shriram Transport Finance Q1 net up
SAP, IIM Bangalore in strategic pact
Sanyo BPL launches new products
Mindteck revenues up in Q1
Wind River Systems releases new product
Six software firms join Itanium Alliance
Wheels India maintains sales in Q1
Tax collections up 40 p.c. in Q1
Advinus drug discovery facility opened
PNB move to open subsidiary in U.K.
Standard group takes over NRI TV
GM India sales jump 37 p.c.
Matrix Partners India launches $ 150 million fund

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu