Rupee recovers 6 paise against US dollar to end at 60.08
Rupee recovers 6 paise against US dollar to end at 60.08
It hovered in a range of 60.06 and 60.15 per dollar during the day.

Mumbai: The rupee recovered by six paise to close at 60.08 on Friday against the US dollar on the back of firm local equities amidst weak dollar in overseas.

Fresh dollar selling by exporters and weak dollar overseas also aided the rupee rise while sustained capital outflow restricted the surge, a forex dealer said.

At the Interbank Foreign Exchange (Forex) market, the local currency commenced higher at 60.10 a dollar from last close of 60.14 and improved further to 60.06 before ending at 60.08, showing a rise of six paise or 0.10 pct.

It hovered in a range of 60.06 and 60.15 per dollar during the day.

The Indian benchmark S&P BSE Sensex on Friday moved up by 37.25 points or 0.15 pct while FIIs pulled out Rs 601.89 crore on Thursday, as per provisional data with stock exchanges.

The dollar index, a gauge of other global major rivals, was down by 0.04 pct.

Mr. Pramit Brahmbhatt, Veracity Group CEO: said, on Friday not much movement was seen in the USD/INR pair. The pair is likely to trade range bound as investors are trading cautiously and are waiting for the budget. The trading range for the Spot USD/INR pair is expected to be within 59.80 to 60.50.

In New York market, the dollar fell against the pound yesterday after the Bank of England took steps to strengthen rules on mortgage lending, and extended losses against the yen after US economic data.

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