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Rupee Recovers From Day's Low

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The rupee trades at 55.41/42 per dollar, recovering sharply from the day's low of 56.09 as exporter dollar sales and a recovery in the euro towards session high hurts; pair had closed Thursday at 55.65/66.

Traders cite dollar flows from exporters who had still not converted half of their foreign currency earnings into rupees as mandated by RBI. Some selling from foreign banks on likely custodian flows also seen, say dealers.

Euro trades near session highs of $1.2566, while domestic shares also recover on the back of stronger European markets.


(Reuters)


Tags assigned to this article:
exporters rbi finance news 5 markets rupee euro dollar sales