Moneycontrol PRO
Upcoming Event:Attend Quants League - 5 Days Live Algorithmic Options Trading Virtual Conference @ just Rs. 600/- brought to you by Moneycontrol Pro. Register Now!

Rupee gains 13 paise versus dollar

The Indian rupee appreciated by 13 paise to Rs 44.95 per US dollar in early trade today due to sustained selling of dollars by banks and exporters amid firm domestic equity markets and dollar weakness overseas.

May 31, 2011 / 11:35 AM IST

The Indian rupee appreciated by 13 paise to Rs 44.95 per US dollar in early trade today due to sustained selling of dollars by banks and exporters amid firm domestic equity markets and dollar weakness overseas.


At the Interbank Foreign Exchange, the domestic unit opened higher at 44.99/45.00 per dollar from yesterday's closing level of 45.08/09 per dollar and moved up further to 44.95 per dollar at 1030 hours.


It hovered in a range between Rs 44.95 and Rs 45.05 per dollar in morning deals. Sustained selling of dollars by banks and exporters and
a better start in the stock market mainly boosted the rupee value against the dollar, a forex dealer said.
   
The Bombay Stock Exchange benchmark Sensex shot up by 148.79 points to 18,380.85 at 1015 hours. Meanwhile, oil rose in Asian trade today as a weakened dollar spurred investor interest in dollar-priced commodities,
including crude, analysts said.

New York's main contract, light sweet crude for July delivery, gained 35 cents to USD 100.94 a barrel.

first published: May 31, 2011 11:33 am

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark