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Rupee recovers by 4 paise vs dollar |
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The rupee recovered modestly by 4 paise on Wednesday close at 44.47/48 against US currency on mild dollar selling by exporters despite weak local equities in Mumbai.
"Indian equities continued to fall and closed down by half a per cent, which depreciated rupee, but in later session rupee got some strength and traded near to its previous closing as the dollar lost against major currencies," Alpari (Forex) India CEO Pramit Brahmbhatt said.
The levels to watch out for rupee would be 45. The trading range for the USD/INR will be between 44.50-45.00," he added.
At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 44.60/61 a dollar from previous close of 44.51/52 and immediately touched a low of 44.62 in line with sluggish equities.
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