Rupee rises 55 paise to 70.85 against US dollar in early trade |
The rupee rebounded from the six-month low and appreciated by 55 paise to 70.85 against the US dollar in early trade on Aug 14.The rupee rebounded from the six-month low and appreciated by 55 paise to 70.85 against the US dollar in early trade. The rupee rebounded from the six-month low and appreciated by 55 paise to 70.85 against the US dollar in early trade amid positive opening in domestic equity market and easing crude oil prices. Earlier, the rupee had plunged 62 paise to close at a nearly six-month low of 71.40 against the US dollar in line with battered equities as global market turmoil and Argentine currency crash drove investors to safe havens. At the interbank foreign exchange, the rupee opened at 71.00, then gained momentum and touched a high of 70.85, registering a rise of 55 paise over its previous close of 71.40. The domestic unit pared some gains and was trading at 70.92 against the dollar at 0953 hrs.
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