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Rupee rebounds 27 paise in early trade

Rupee rebounds 27 paise in early trade

Published:16 May 2018

Rupee rebounded by 27 paise to 67.80 per dollar in early trade on fresh selling of the US currency by exporters and banks

Mumbai | The rupee rebounded by 27 paise to 67.80 per dollar in early trade on fresh selling of the US currency by exporters and banks.Yesterday, the rupee had lost 56 paise -- the second biggest single-day fall of 2018 -- to end at a new 16-month low of 68.07 as panic dollar demand rattled the currency market.Traders said the dollar's strength against other currencies overseas, as a surge in the benchmark 10-year Treasury yield above 3 per cent reignited a rally that had lost steam last week, capped the rupee's gains.Meanwhile, the benchmark BSE Sensex was down 176.03 points, or 0.49 per cent, to 35,367.91 in early trade on Wednesday. 


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