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Rupee recovers early loses, marginally up against dollar

Rupee recovers early loses, marginally up against dollar
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First Published: Fri, Dec 14 2007. 03 15 PM IST
Updated: Fri, Dec 14 2007. 03 15 PM IST
By SSA
Mumbai: The rupee recovered early lows and was quoted nearly three paise higher against the US dollar during morning trade, on a smart rally in equity market after early hitches amid slowdown in FII activity.
In lacklustre activity at the Interbank Foreign Exchange (Forex) market, the local currency resumed weak at 39.42/44 a dollar from yesterday’s close of 39.3950/4050 a dollar but recovered to 39.3675/3750 a dollar in late morning deals on the back of firm stock market.
The rupee was influenced by the stock market and moved in line with the trend in bourses this morning, forex dealers said.
The Indian unit recovered as stocks bounced from their early lows, while Asian bourses showed weak trend in early trade on 14 December, they added.
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First Published: Fri, Dec 14 2007. 03 15 PM IST
More Topics: Rupee | Dollar | Money Matters | Currency |