Apr 12, 2012, 08.38 AM | Source: PTI
The rupee today recovered from three-month lows to close marginally higher by 5 paise at 51.42/43 against the US currency on fresh dollar selling by banks despite weak equity markets.
The rupee resumed lower at 51.51/52 per dollar at the Interbank Foreign Exchange ( Forex) market against the last close of 51.47/48. It dropped further to a three-month low of 51.70 on renewed dollar demand from importers amidst weakness in local equity markets.
But, later it recovered to 51.38 per dollar before settling at 51.42/43 per dollar, showing a gain of five paise.
Fresh selling of dollars by banks and exporters in view of weak dollar in overseas markets mainly boosted the rupee's value against the dollar, a dealer said.
In London, the yen rose to a six-week high against the dollar today as concerns grew about worsening debt problems in a number of euro zone economies that may threaten global growth, boosting demand for the safe-haven currency.
Rupee opens at 68.38 per dollar; down 9 paise
We expect the rupee to head towards 68.50/dollar l
Expect rupee to head towards 68.50/USD level: Pramit Brahmbhatt
For the day, we will see Rupee trading in a range
Rupee ends at fresh 29-month low of 68.30, down 45 paise
The rupee had slumped to its all-time closing low
Rupee cracks 68-mark in late morning deals, down 18 paise vs USD
The Indian unit resumed lower by 10 paise at 67.95
Rupee down 10 paise; opens at 67.95 per dollar
We expect the USD-INR to trade in a range of 67.75
Rupee opens flat at 67.90 per dollar
We expect the rupee to trade in a range of 67.85-6