Rupee rises 18 p to 81.93 against US dollar in early trade
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
According to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, fell by USD 4.38 billion to USD 509.691 billion.
Sensex opened at 38,941.10 from its previous close of 38,823.11.
A strengthening dollar against major currencies overseas and weak domestic equity market weighed on the local unit, forex traders said. However, softening crude oil prices restricted the rupee's fall, they added.
Forex traders said rupee is expected to trade in a narrow range as market participants will keep a close watch on the Union budget this week, that could trigger volatility in the local unit.
Subdued sentiments in domestic equity markets also influenced the trading pattern in the currency market, forex traders said. However, a weak dollar against major currencies overseas restricted the rupee's fall, they added.
The rupee opened on a weaker note but soon pared the losses and appreciated by 13 paise to 70.92 against the US dollar in opening trade Wednesday, driven by gains in domestic equities and weakening of the greenback in overseas markets.
Falls 21 paise in late morning deals; trading on a volatile note, moving between a wide range of 71.40 and 71.79 against a USD
Opening at a record low of 71.24 against a dollar at the Interbank Foreign Exchange, down from its previous close of 71.21, the local currency weakened further to trade at a life-time low of 71.37 per dollar on Tuesday
A higher opening in the equity market also supported the rupee's recovery
The rupee recovered from its nearly one-month low by strengthening 32 paise to 68.06 against the US dollar in early trade.
