Rupee recovered 13 paise against dollar on fresh selling

rupee vs Dollar

The rupee recovered 13 paise to 64.25 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters and banks.

Besides, a higher opening of domestic stocks and fresh bout of foreign fund inflows kept the domestic unit in high spirits, forex dealers said.

However, the dollar’s recovery against some currencies overseas on a strong US jobs report restricted the rupee’s upmove.

On Friday, the rupee plunged 20 paise to end at a fresh two-week low of 64.38 against the US dollar as a massive fall in local equities amid heightened global volatility took toll on the currency market.

Meanwhile, the benchmark BSE Sensex bounced 78.22 points, or 0.26 per cent, to 29,937.02 in early trade.