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Homechevron_rightIndiachevron_rightRupee recovers by 170...

Rupee recovers by 170 paise

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Rupee recovers by 170 paise
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New Delhi: The rupee on Thursday recovered from its all-time low by rising 170 paise to 67.10 against the dollar in early trade at the forex market on fresh selling of the US currency by exporters and banks amid latest measures announced by the RBI to check freefall of the currency.

Besides, the dollar selling by exporters and banks, fresh measures announced by the RBI to curb the rupee’s slide and fall in crude prices in the global market, helped domestic currency to rebound, forex dealers said.

The rupee on Wednesday had registered its biggest single-day fall of 256 paise to close at an all-time low of 68.80 against the dollar as global oil prices jumped, deepening concerns about the current account deficit and capital outflows.

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