Rupee up 5 paise from all-time low to 83.65 against dollar in early trade

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Rupee up 5 paise from all-time low to 83.65 against dollar in early trade - Business Standard

Quick Summary:

The rupee recovered from its all-time low level and appreciated by 5 paise to 83.65 against the US dollar in early trade on Monday, as the American currency retreated from its elevated level.

Forex traders said foreign fund inflows and possible intervention by the Reserve Bank of India (RBI) supported the rupee at lower levels and restricted the downfall.

"A weakening dollar -- prompted by shifts in the macroeconomic landscape and emerging cracks in US economic data -- caused the dollar index to dip to 104.