Rupee rebounds 2.1 percent to 63.20 against USD

Mumbai, Aug 23 : The Indian rupee rose 2.1 percent to 63.20 against a dollar Friday, the biggest gain in nearly a year after the central bank intervened in the markets.

The rupee appreciated after six days of battering. It had slumped to record low of 65.56 against a dollar Thursday.

The partially-convertible rupee made a smart recovery and ended the day at 63.20 against a dollar at the inter-bank currency markets here, 2.1 percent higher than the previous day's close at 64.55.

This is the biggest single day gain in the value of Indian rupee against dollar since September 2012.

The currency recovered after the policy makers stepped in and the central bank made significant interventions in the markets by selling dollars.

Finance Minister P. Chidambaram Thursday said the rupee was "undervalued" and the pessimism in the currency markets were unwarranted.

--IANS (Posted on 23-08-2013)

business-india-news headlines

Reliance rubber unit sets up customer support in Vadodara

India's GDP quadrupled in 10 years under UPA: Anand Sharma

Pay outstanding salaries to pilots: High Court to Kingfisher

India's forex reserves rise to $309.44 bn

Reliance Industries sees net profit of Rs.21,984 crore in 2013-14

Wipro Q4 profit rises by 29 percent, beats analyst estimates

Trade, commerce to drive India-US ties: Narendra Modi

PepsiCo launches free talk time offer

TCS, Twitter launch app to track Indian Elections

India's software market grew at 10pc in 2013: Research

Anand Mahindra, Banmali Agrawala, Ellen Lord named USIBC directors

Sigvaris appoints NovoMed as distributor in India

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top