Press Esc to close
Wednesday 02 September 2015
News updated at 11:37 AM IST
Weather
Max: 34°C
Min : 21°C
In Bengaluru
Partially cloudy

Rupee up 73 paise to seven-week high of 61.73 against dollar

Mumbai, Oct 3, 2013 (PTI)
File Photo.

The rupee appreciated by a further 73 paise to close at an almost seven-week high of 61.73 against the dollar today as the US currency weakened globally following the budget impasse in Washington and fears of the Fed tapering its stimulus programme receded.

Dollar sales by exporters and firm local equities also supported the local currency.The rupee opened at 62.15 a dollar from the previous close of 62.46 at the interbank foreign exchange market and touched a low of 62.22. It bounced back to a high of 61.65 before settling at 61.73, a rise of 73 paise or 1.17 per cent.

The rupee was at the highest level since August 16, when it closed at 61.65 against the dollar. Finance Minister P Chidambaram has said the value of the rupee based on the real effective exchange rate was 59-60 to a dollar.

"The gains were mainly attributed to the sharp weakness in the US dollar index and strength in the euro," said Abhishek Goenka, CEO of India Forex Advisors. "The US dollar weakened globally following a failure by US lawmakers to resolve a budget impasse."

The 30-share S&P BSE Sensex shot up 384.92 points or 1.97 per cent as the partial US government shutdown eased investor concerns about a tapering of the Federal Reserve's stimulus programme. Foreign institutional investors pulled out a net Rs 106.97 crore of shares on Tuesday, according to provisional data with the stock exchanges.

The dollar index, a gauge of six major global rivals, was down by 0.07 per cent."The trading range for the USD-INR pair is expected to be within 61.00 to 62.80," said Pramit Brahmbhatt, CEO of Alpari Financial Services (India). 


Go to Top

Photo Gallery
Jaya Karnataka members holding a candle light vigil to staging dhana to condemn...

Jaya Karnataka members holding a candle light vigil to staging dhana to condemn...

Police men baton charge B P Ed Sangharsh Morcha members...

Police men baton charge B P Ed Sangharsh Morcha members...

NCC boats sail towards Sultan Bathery as a part of river sailing expedition...

NCC boats sail towards Sultan Bathery as a part of river sailing expedition...

women's 2000M Dragon Boat race event at the 4th National Dragon Boat Championship...

women's 2000M Dragon Boat race event at the 4th National Dragon Boat Championship...

Launch of Ciaz Smart Hybrid in New Delhi...

Launch of Ciaz Smart Hybrid in New Delhi...

Iris Maju is crowned as Mrs India World 2015 in Kochi on Tuesday...

Iris Maju is crowned as Mrs India World 2015 in Kochi on Tuesday...

Activist of AASU burn tyres during a protest at Margherita in Tinsukia district...

Activist of AASU burn tyres during a protest at Margherita in Tinsukia district...

Narendra Modi leaves in a chopper after NDA's Parivartan Rally at the Airport...

Narendra Modi leaves in a chopper after NDA's Parivartan Rally at the Airport...

A artist giving final touches to the Ganesha idol ahead of Ganesha Chathurthi Festival...

A artist giving final touches to the Ganesha idol ahead of Ganesha Chathurthi Festival...

Vehicle riders watch as two decorated elephants pass near Shanthala theatre...

Vehicle riders watch as two decorated elephants pass near Shanthala theatre...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523