The rupee recovered by 12 paise to trade at 11-month high of 58.40 against the US dollar in early trade today at the Interbank Foreign Exchange market on increased foreign capital inflows ahead of swearing-in of Narendra Modi as the Prime Minister of India.
Besides, increased dollar selling by exporters, a higher opening in the domestic equity market and strengthening of euro against the American currency overseas also supported the rupee.
Source:- ptinews.com
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