For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Rupee opens strong at 58.21; gains 20 paise

    |
    Rupee opens strong at 58.21; gains 20 paise
    INR
    68.628 US Dollar
    After hitting a record high of 58.96 against the dollar, the rupee recovered in trade and was last trading at 58.29 to the dollar.
     

    The rupee tumbled almost 5 per cent in May and was threatening to collapse on Tuesday, but, dealers say the RBI sold dollars through PSU banks which helped support the rupee.

    In May the rupee fell almost 5 per cent, as a general strength in the Dollar against major currencies, saw the Indian rupee also lose ground.

    Large scale selling by foreign funds in the debt market also saw some effect in the forex market, as dealers say there could be some dollar outflow on account of the huge selling pressure.

    Meanwhile, Indian stock markets opened marginally lower in line with most other Asian markets.

    GoodReturns.in

    Read more about: dollar
    Story first published: Wednesday, June 12, 2013, 9:10 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more