On Wednesday in the late morning trade, Rupee had significant growth rising by 12 paisa to end at 54.69 against the green currency, USD. Analysts attributed the rise to the large sale of the US currency overseas by exporters and banks. With the influx of capital from foreign funds, the rupee could gain further.
Initially, rupee fell slightly but recovered strongly from yesterdays closing level of 54.81 per dollar at the Interbank Foreign Exchange (Forex) market. Bullish trends of equities could also have helped the rupee sentiment.
On the other hand BSE benchmark has reclaimed the lost 20,000 mark in the points value after it gained 353.41 points. That registered a 1.82 percent growth to finish at 20,080.57 in the late morning trade.
Japanese Yen also gained against USD despite the latter still maintaining a lever seen only before four years with the anticipation of an improving US Economy.
(AW- Anil)
