Rupee recovers 12 paise to 61.74 against dollar in early trade
The rupee recovered by 12 paise to 61.74 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters.
Forex dealers said the dollar's weakness against other currencies overseas and a higher opening in the domestic equity market also supported the rupee.
The rupee had lost 45 paise against the dollar yesterday, its worst single- session drop in nearly seven weeks, to end at 61.86 on month-end dollar demand from importers and banks amid speculation that the US Federal Reserve is considering raising interest rates later this year.
Russian rouble dips before central bank meeting
Russia's rouble dipped in early trade on Friday, ahead of a central bank monetary policy meeting at which the bank is expected to leave it key interest rate on hold.
At 0720 GMT, the rouble was about 0.4 per cent weaker against the dollar at 68.99 and lost 0.6 per cent to trade at 78.13 versus the euro.
Russia's central bank will announce its decision on its key rate at around 1030 GMT (1330 Moscow time). A Reuters poll predicted the bank would hold the lending rate at 17 per cent, even though the economy is likely to contract by 4.2 percent this year.
The rupee recovered by 12 paise to 61.74 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters.
Forex dealers said the dollar's weakness against other currencies overseas and a higher opening in the domestic equity market also supported the rupee.
The rupee had lost 45 paise against the dollar yesterday, its worst single- session drop in nearly seven weeks, to end at 61.86 on month-end dollar demand from importers and banks amid speculation that the US Federal Reserve is considering raising interest rates later this year.
Russia's rouble dipped in early trade on Friday, ahead of a central bank monetary policy meeting at which the bank is expected to leave it key interest rate on hold.
At 0720 GMT, the rouble was about 0.4 per cent weaker against the dollar at 68.99 and lost 0.6 per cent to trade at 78.13 versus the euro.
Russia's central bank will announce its decision on its key rate at around 1030 GMT (1330 Moscow time). A Reuters poll predicted the bank would hold the lending rate at 17 per cent, even though the economy is likely to contract by 4.2 percent this year.
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