Rupee recovers, as month end dollar demand wanes

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Rupee recovers, as month end dollar demand wanes
The partially convertible Indian rupee rose 28 paise on Tuesday amidst dollar inflows from foreign funds.

Also, dollar demand tends to be weak towards the beginning of the month on reduced oil payments. The dollar was also seen weakening against other major currencies.

The Rupee was trading after a three day holiday as forex and money markets remained closed yesterday for annual account closing.

The Indian rupee opened at 50.60 per dollar versus a Friday's close of 50.87. At 10.20 am IST, the Indian currency was seen trading up by Rs 28 at Rs 50.59.

Meanwhile, Markets were seen trading up, with the BSE Sensex up140 points at 17620.

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Read more about: currency, dollar, sensex
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