Rupee gains 17 paise against dollar

Business

oi-Sneha

By Sneha B K

Published: Monday, October 22, 2012, 12:32 [IST]

The partially convertible Indian rupee appreciated by 17 paise to Rs 53.68 per dollar on Interbank Foreign Exchange on selling of the American currency by exporters and banks.

The Indian rupee opened at 53.89 per dollar against 53.84 on Friday. At 12.25 pm IST, rupee was seen trading at 53.70.

Euro strengthening against the dollar overseas also supported the rupee. Rupee generally follow the footsteps of Euro, if euro is rising against the dollar, same trend can be visible in the Indian currency as well.

The Canadian dollar stood out from the crowd on today, falling to a two-month low as the market positioned for a more dovish Bank of Canada in the wake of tame inflation numbers, while the yen stayed under pressure amid more policy easing expectations, reports PTI.

Meanwhile, the BSE was seen trading at 18,790 up by 108 or 0.58%. The 50-share NSE was at 5,710 up by 26 points or 0.47%.

GoodReturns.in