Rupee rises against dollar by 10 paise

May 30, 2013 17:10
Rupee rises against dollar by 10 paise

After a bad week of poor performance in the Interbank Foreign Exchange Market, the Indian currency managed to get things straight slightly improving over the US Dollar as it finished at 56.07 today in the early morning trade.

USD was at a loss favoring the Indian rupee after the dealers indulged in selling the foreign currency and Euro overpowered the USD gains in the forex trade today.

Yesterday's rate for INR was a 10 month low after it closed 21 paise down at 56.17! This made imports costlier that is likely to worsen government's Current Account Deficit (CAD) woes and hit the common man hard.

Meanwhile, the BSE benchmark index Sensex fell by 81.50 points, or 0.40 per cent, to 20,066.14 in early trade today.

(AW- Anil)

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