Rupee Recovers From 16-Month Low Against US Dollar: 5 Points
The rupee recovered from its 16-month low to close higher at 68.04 per US dollar today. The rupee traded in a tight range of 68.08 to 67.93 per US dollar today. On Monday, the rupee had lost 12 paise to close at a fresh 16-month low of 68.12 against the US currency. Selling of US dollars by exporters and banks, weakness in the dollar against other currencies overseas supported the rupee. Gains in the domestic stock markets also lifted the rupee. The Sensex today edged higher to snap a 5-session losing streak.
Here are 5 things to know about rupee-dollar trade today
dollar today fell off its five-month highRising global crude prices
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