Rupee recovers 3 paise vs dollar in late morning deals

Monday, Feb 29, 2016,9:44 IST By metrovaartha A A A

Mumbai | The rupee recovered 3 paise to 68.59 against the US currency in late morning deals, following sustained bouts of dollar selling from banks and exporters. The rupee resumed lower at 68.69 from last Friday’s closing level of 68.62 at the Interbank Foreign Exchange Market (Forex) here today.
It slid further to 68.74 on heavy bouts of dollar demand before quoting at 68.59 at 1030 hours. It moved in a range of 68.74 and 68.57 during the morning trade. Meanwhile, the dollar index was down 0.14 per cent at 98.02 against a basket of six currencies in early trade.

Overseas, the dollar took a breather against its major rivals in early Asian trade following a steep climb on upbeat US data while reaction to a weekend meeting of G20 policymakers was muted as the outcome yielded no major surprises.

Meanwhile, the benchmark BSE Sensex was trading higher 44.78 points, or 0.19 per cent, at 23,199.08 at 1106 hours.