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Updated: April 4, 2014 18:30 IST

Rupee gains 8 paise against dollar

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A file picture of Indian currency. Photo: K. Pichumani.
The Hindu
A file picture of Indian currency. Photo: K. Pichumani.

The rupee on Friday gained eight paise to close at 60.08 against the dollar on fresh selling of the US currency by exporters and some banks notwithstanding weakness in local equities and firm greenback overseas.

At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed weak at 60.28 from previous close of 60.16.

It even touched 60.39 on dollar demand from importers.

Soon, it started recovering the lost ground and finished the day at 60.08, rise of eight paise from its previous close.

The dollar index was up by 0.05 per cent against a basket of six major global units.

Meanwhile, the benchmark BSE Sensex on Friday dropped 149.57 points or 0.66 per cent to close at 22,359.50.

Foreign Institutional Investors (FIIs) continued buying by investing a net Rs 717.39 crore on Thursday, as per provisional data from stock exchanges.

The benchmark six-month premium payable in September slipped to 242-244 paise from 249-251 paise previously.

Far forward contracts maturing in March, 2015 also slumped to 489-491 paise from 497.5-499.5 paise.

The Reserve Bank of India fixed the reference rate for dollar at 60.3210 and for the euro at 82.6545.

The rupee recovered against the pound at 99.61 from last close of 99.84. It bounced back to 82.35 per euro from 82.77 previously.

The domestic currency gained to 57.81 per 100 Japanese yen from last level of 57.90.

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