Rupee recovers 7 paise, ends at 68.23 Vs USD

The domestic currency hovered in a range of 68.14 and 68.47 per dollar during the day.  

PTI| Updated: Feb 12, 2016, 20:54 PM IST
 Rupee recovers 7 paise, ends at 68.23 Vs USD

Mumbai: The rupee on Friday regained 7 paise to end at 68.23 per dollar on fresh selling of the American currency by banks and exporters in view of mild recovery in domestic equities.

The weaker dollar overseas also boosted the rupee value, a forex dealer said.

The rupee resumed lower at 68.40 per dollar as against yesterday's closing of 68.30 at the Interbank Foreign Exchange market and dropped further to 68.47 on initial demand for the US currency from importers in view of sustained foreign capital outflows.

However, it recovered afterwards to 68.14 on fag-end selling of dollars by banks and exporters due to weakness in greenback in global markets before ending at 68.23, showing a gain of 7 paise or 0.10 percent.

The rupee had closed at 68.30 per dollar yesterday.

The domestic currency hovered in a range of 68.14 and 68.47 per dollar during the day.

The dollar index was up 0.13 percent against a basket of six currencies in the late Asian trade.

In the overseas market, the yen weakened moderately against its rivals during Asia trade today, as Japanese authorities' talking failed to give a new direction to the perceived safety of the Japanese currency.

However, the US dollar fell to a 15-month low against the yen yesterday, on track for its worst week against the Japanese currency since 2008, as fears of a global economic slowdown and concerns about stress in the banking system increased demand for safe havens.

Meanwhile, the benchmark Sensex today recovered marginally by 34.29 points or 0.15 percent.