Rupee recovers by 8 paise against dollar in early trade

Rupee recovered by 8 paise to 66.38 against the dollar at the Interbank Foreign Exchange in early trade on Wednesday on fresh selling of the US currency by banks and exporters amid a higher opening of the domestic equity market.

Dealers said selling of the American unit by exporters and banks supported the domestic currency but dollar's strength against other currencies overseas, limited the rupee's gain.

Moreover, a higher opening in the domestic equity market also supported the rupee, they said.

The rupee had dropped by 25 paise to end at 66.46 in Tuesday's trade, snapping its nearly two-week winning spree on fresh demand for the dollar from banks and importers amid sharp fall in equity.

Meanwhile, the benchmark BSE Sensex regained the crucial 25,000-mark by rising 117.06 or 0.47 per cent to trade at 25,000.65 in early deals.

How RBI is disposing of demonetised currency worth Rs 15.28 trillion

New Delhi: Demonetised Rs 500 and Rs 1,000 notes, which have been counted and processed for genuineness, are shredded and briquetted before being disp...

RBI issues corrective framework for PSBs

New Delhi: Amid the multiple scams unearthed recently in the banking sector, the Reserve Bank of India (RBI) has issued a Prompt Corrective Action (PC...

No proposal under consideration to scrap Rs 2,000 note: Government

New Delhi: The government on Friday categorically said there was no proposal to discontinue Rs 2,000 currency note, which was introduced post demoneti...

Odisha govt to set up Information Technology Investment Region

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Thursday said the government has proposed to set up an Electronics System Design and Manufacturin...