<p>The rupee ended higher by 17 paise to 64.00 against the American currency on fag-end selling of dollars by banks and exporters on the back of strong recovery in the equity market.<br /><br /></p>.<p>The rupee resumed lower at 64.20 per dollar against the yesterday's closing level of 64.17 at the Interbank Foreign Exchange (Forex) Market on initial dollar demand from banks and importers.<br /><br />However, it recovered afterwards to 63.94 per dollar on selling of dollars by banks and exporters in view of recovery in the equity market, before concluding at 64.00, disclosing a gain of 17 paise or 0.26 per cent.<br /><br />The rupee had dropped by 32 paise or 0.50 per cent yesterday.<br /><br />It hovered in a range of 63.9400 and 64.2150 during the day.<br /><br />The dollar index was trading down 0.10 per cent against its major global rivals.<br /><br />In New York market, the dollar traded lower against most of its rivals yesterday after two sessions of marginal gains, as US treasury yields turned lower and a Greek debt payment to the IMF supported the euro.<br /><br />The Indian benchmark Sensex ended higher by 373.62 points or 1.39 per cent today. It had ended lower by 629.82 points of 2.29 per cent yesterday. <br /><br />Pramit Brahmbhatt, Veracity Group CEO said, "The rupee traded strong and appreciated by over quarter percent during the day to close at 64.00. The rupee moved in a positive note with the help of higher opening in the domestic equity market, also the weak dollar index supported the rupee."<br /><br />The trading range for the Spot USD/INR pair is expected to be within 63.70 to 64.30.<br />In the forward market, the premium recovered on fresh paying pressure from corporates.<br /><br />The benchmark six-month premium payable in October edged up to 216.5-218.5 paise from 215.5-217.5 paise yesterday and forward contracts maturing in April 2016 also moved up to 437.5-439.5 from 434.5-436.5 paise.<br /><br />The Reserve Bank of India fixed the reference rate for dollar at 64.1895 and for the euro at 72.0784.<br /><br />The rupee recovered against the pound sterling to 100.20 from 100.59 previously and also recovered against the euro to 71.89 from 72.15.<br /><br />However, it ruled steady against the Japanese currency at 53.47 per 100 yen.</p>
<p>The rupee ended higher by 17 paise to 64.00 against the American currency on fag-end selling of dollars by banks and exporters on the back of strong recovery in the equity market.<br /><br /></p>.<p>The rupee resumed lower at 64.20 per dollar against the yesterday's closing level of 64.17 at the Interbank Foreign Exchange (Forex) Market on initial dollar demand from banks and importers.<br /><br />However, it recovered afterwards to 63.94 per dollar on selling of dollars by banks and exporters in view of recovery in the equity market, before concluding at 64.00, disclosing a gain of 17 paise or 0.26 per cent.<br /><br />The rupee had dropped by 32 paise or 0.50 per cent yesterday.<br /><br />It hovered in a range of 63.9400 and 64.2150 during the day.<br /><br />The dollar index was trading down 0.10 per cent against its major global rivals.<br /><br />In New York market, the dollar traded lower against most of its rivals yesterday after two sessions of marginal gains, as US treasury yields turned lower and a Greek debt payment to the IMF supported the euro.<br /><br />The Indian benchmark Sensex ended higher by 373.62 points or 1.39 per cent today. It had ended lower by 629.82 points of 2.29 per cent yesterday. <br /><br />Pramit Brahmbhatt, Veracity Group CEO said, "The rupee traded strong and appreciated by over quarter percent during the day to close at 64.00. The rupee moved in a positive note with the help of higher opening in the domestic equity market, also the weak dollar index supported the rupee."<br /><br />The trading range for the Spot USD/INR pair is expected to be within 63.70 to 64.30.<br />In the forward market, the premium recovered on fresh paying pressure from corporates.<br /><br />The benchmark six-month premium payable in October edged up to 216.5-218.5 paise from 215.5-217.5 paise yesterday and forward contracts maturing in April 2016 also moved up to 437.5-439.5 from 434.5-436.5 paise.<br /><br />The Reserve Bank of India fixed the reference rate for dollar at 64.1895 and for the euro at 72.0784.<br /><br />The rupee recovered against the pound sterling to 100.20 from 100.59 previously and also recovered against the euro to 71.89 from 72.15.<br /><br />However, it ruled steady against the Japanese currency at 53.47 per 100 yen.</p>