Rupee recovers from all-time low level; rises 29 paise to 83.32
The Hindu
At the interbank foreign exchange, the domestic currency opened at 83.33 and it gained ground and touched 83.32 against the greenback
The rupee recovered from its all-time low level and appreciated 29 paise to 83.32 against the U.S. dollar in early trade on March 26.
At the interbank foreign exchange, the domestic currency opened at 83.33 and it gained ground and touched 83.32 against the greenback in initial deals, registering a gain of 29 paise from its previous close.
On Friday, the rupee depreciated 48 paise to settle at an all-time low of 83.61 against the American currency.
Forex, equity markets were closed on Monday on account of Holi.
Market analysts said, for the domestic unit, record Forex reserves provide a cushion, enabling the Reserve Bank to mitigate the rupee's downside.
India's forex reserves increased by $6.396 billion to $642.492 billion for the week ended March 15, the Reserve Bank said on Friday.
In the previous reporting week, the overall reserves had risen by $10.47 billion to $636.095 billion.
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