Rupee recovers early losses

October 19, 2018 11:38

The rupee recovered from early losses to trade higher by 19 paise at 73.42 against the US currency in late morning session Friday on fresh dollar selling by exporters amid easing crude oil prices and a weakening greenback.

Dealers said the Reserve Bank of India's steps to ease liquidity concerns of NBFCs also helped the domestic currency. At the Interbank Foreign Exchange, the rupee opened lower at 73.62, but soon recovered the lost ground and jumped 19 paise to touch a high of 73.42 on increased selling of the American currency by exporters and banks. The rupee sentiment also received a boost after a steep fall in Brent crude prices Thursday following a surprise jump in US stockpiles and lingering worries about Chinese growth outlook. -- PTI

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