Rupee gains 15 paise against dollar in late morning trade

Published: 27th November 2013 11:39 AM  |   Last Updated: 27th November 2013 11:40 AM   |  A+A-


The rupee gained 15 paise to 62.35 against the American currency in late morning trade on fresh selling of the Greenback by banks amidst lower dollar overseas.

The rupee resumed higher at 62.45 per dollar as against the last closing level of 62.50 to a dollar at the Interbank Foreign Exchange (Forex) Market and firmed up further to 62.26 before quoting at 62.35 per dollar at 1040 hrs.

It moved in a range of 62.26 and 62.46 per dollar during the late morning deals.

Weakness of the Greenback in the overseas market mainly boosted the rupee against the dollar, a forex dealer said.

In New York market, the US dollar fell against the euro yesterday, but continued to show strength against commodity currencies such as the Australian dollar.

Also, the consumer confidence index declined to 70.4 this month from 71.2 in October as a result of more concern among Americans about future employment and income. Economists had expected the index to rise to 72.4, according to a MarketWatch poll.

Meanwhile, the BSE benchmark Sensex was quoted slightly lower at 20,419.78 at 1045 hrs.

The rupee appreciated by 18 paise to 62.32 against the dollar in early trade today at the Interbank Foreign Exchange market on selling of the US currency by exporters.


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