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Rupee Rebounds 27 Paise in Early Trade

Yesterday, the rupee had lost 56 paise — the second biggest single-day fall of 2018 — to end at a new 16-month low of 68.07 as panic dollar demand rattled the currency market.

PTI

Updated:May 16, 2018, 10:03 AM IST

Representative image.
Mumbai: The rupee rebounded by 27 paise to 67.80 per dollar in early trade today on fresh selling of the US currency by exporters and banks.

Yesterday, the rupee had lost 56 paise — the second biggest single-day fall of 2018 — to end at a new 16-month low of 68.07 as panic dollar demand rattled the currency market.

Traders said the dollar’s strength against other currencies overseas, as a surge in the benchmark 10-year Treasury yield above 3 per cent reignited a rally that had lost steam last week, capped the rupee’s gains.

Meanwhile, the benchmark BSE Sensex was down 176.03 points, or 0.49 per cent, to 35,367.91 in early trade today.

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Source: News18

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