After weak opening, rupee rises 13 paise to 70.92 vs USD in early trade
Mumbai,(PTI) The rupee opened on a weaker note but soon pared the losses and appreciated by 13 paise to 70.92 against the US dollar in opening trade Wednesday, driven by gains in domestic equities and weakening of the greenback in overseas markets.
The rupee opened on a weak note at 71.10 at the interbank forex market then lost further ground and touched a low of 71.12.
The domestic unit however pared the losses and touched a high of 70.92, registering gains of 13 paise over it’s previous close.
Forex dealers said, selling of the American currency by exporters supported the rupee.