MARKET HEADLINES
Rupee gains 14 paise against dollar in early trade
The rupee recovered by 14 paise at 62.20 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters. Forex dealers said though selling of the US currency by exporters and banks supported the rupee but the dollar's strength against other currencies overseas and a lower opening in domestic equity markets, limited the rise. The rupee had lost 18 paise against the American currency on Wednesday due to fresh dollar demand from banks and importers.
Euro under pressure on Greek jitters
The euro struggled in Asia on Friday ahead of Greece's last-minute funding talks with its European creditors, while the dollar was supported by expectations of a US interest rate hike this year. The common European currency bought $1.1363 and 135.10 yen in Tokyo afternoon trade, against $1.1365 and 135.18 yen in New York, and well down from $1.1415 and 135.49 yen earlier Thursday in Asia. The dollar was at 118.89 yen from 118.94 yen in US trade. Eyes are on Brussels, where finance ministers from the eurozone's 19 members will consider Greece's application for a loan extension without the painful austerity measures it says have hurt the economy.
Rupee gains 14 paise against dollar in early trade
The rupee recovered by 14 paise at 62.20 against the US dollar in early trade today at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters. Forex dealers said though selling of the US currency by exporters and banks supported the rupee but the dollar's strength against other currencies overseas and a lower opening in domestic equity markets, limited the rise. The rupee had lost 18 paise against the American currency on Wednesday due to fresh dollar demand from banks and importers.
Euro under pressure on Greek jitters
The euro struggled in Asia on Friday ahead of Greece's last-minute funding talks with its European creditors, while the dollar was supported by expectations of a US interest rate hike this year. The common European currency bought $1.1363 and 135.10 yen in Tokyo afternoon trade, against $1.1365 and 135.18 yen in New York, and well down from $1.1415 and 135.49 yen earlier Thursday in Asia. The dollar was at 118.89 yen from 118.94 yen in US trade. Eyes are on Brussels, where finance ministers from the eurozone's 19 members will consider Greece's application for a loan extension without the painful austerity measures it says have hurt the economy.
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