Press Esc to close
Saturday 30 April 2016
News updated at 8:28 AM IST
Weather
Max: 36.7°C
Min : 24.5°C
In Bengaluru
Sunny day

Rupee surges 64 paise Vs dollar in early trade on RBI measures

Mumbai, Jul 16, 2013, (PTI) :
File photo.

 The rupee today gained a hefty 64 paise to 59.25 in early trade at the Interbank Foreign Exchange market on fresh dollar selling by exporters after the RBI announced a slew of measures to stem the local currency's volatility.

Forex dealers said measures announced by the RBI last night, including hiking the lending rates for banks and sucking up of Rs 12,000 crore to stem the continuing fall of rupee, supported the local currency.

Under the measures announced, RBI raised lending rates to commercial banks 2 per cent to 10.25 per cent making the loans costlier.

The rupee had lost 33 paise, the most in a week, to close at 59.89 against the dollar yesterday on fresh demand from banks and importers amid disappointing industrial production, a fall in exports and higher inflation.

Meanwhile, the BSE benchmark index Sensex plunged by 368.91 points, or 1.84 per cent, to 19,665.57 in early trade today.


Go to Top

Photo Gallery
Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Cricketer Virat Kohli during inauguration of a store in Hyderabad on Friday...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

Boys cool themselves in a pond on a hot summer afternoon at a village near Balurghat in South...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A duck quenches its thirst at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

A pair of tigers at a zoo during hot summer day in Surat on Friday...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Devotees take holy dip in the Kshipra river during Simhasth Kumbha Mela in Ujjain...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Farmers bathe their cattle in a stream during hot summer day in Kasara, Thane...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Actors Karan Singh Grover and Bipasha Basu during their mehndi Ceremony in Mumbai...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Villagers gather to collect water from a well that was filled by a tanker in Kasara, Thane...

Protesters throw stones on security personnel during clashes in Srinagar...

Protesters throw stones on security personnel during clashes in Srinagar...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...

Muslim children paying obeisance at the Golden Temple on the occasion of 463rd Birth Anniversary...