Rupee Ends Higher At 67.08/Dollar Tracking Gains in Shares

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The rupee today recouped against the US currency by 13 paise to close at 67.08 per dollar on fresh dollar selling by banks and exporters amid recovery in stock markets.

The rupee resumed tad higher at 67.20 against yesterday’s closing level of 67.21 at the Interbank Foreign Exchange (Forex) market. It hovered in wide range of 67.03 per dollar and 67.2075 before finishing at 67.08 per dollar, showing a gain of 13 paise or 0.19 per cent.

The rupee had dropped six paise or 0.09 per cent yesterday.

“Bearish dollar overseas also supporting the rupee,” a dealers said. Meanwhile, the dollar index was down by 0.26 per cent against the basket of global currencies in late trade.

The RBI fixed the reference rate for the dollar at 67.1682 and euro at 75.4568.

In cross-currency trades, the rupee fell against the pound sterling to close at 95.86 from 94.97 yesterday. It weakened against the euro to close at 75.53 from 75.21. However, the domestic currency inched up against the Japanese yen to 64.38 per 100 yens from 64.39.