Rupee gains 11 paise in trade at 62.11 to the dollar

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, February 21, 2014, 9:58 [IST]

The rupee was trading with gains of 11 paise in early trade at 62.11 to the dollar on the back of strong global cues.

Equity markets rallied and sentiments were buoyant which pushed the rupee higher. On Thursday too the rupee recovered after reports suggested that custodian banks sold dollars.

The rupee has remained remarkably resilient since the beginning of the year, as India's Current Account Deficit (CAD) has been under control on falling gold imports and rising exports.

The rupee had fallen to a record low of 68.81 against the dollar in Sept last year on a ballooning current account deficit. Check currency rates here

Government measures and measures by the RBI have helped prop the rupee since than.

GoodReturns.in