MUMBAI: The rupee recovers slightly in tandem with local stocks after falling to a 2-month low on Tuesday, tracking the stock market which fell 11.5 per cent in opening deals, with dollar selling by exporters offering support.
At 11:15 am rupee at 39.665/675 per dollar, weaker than the previous finish of 39.555/56, but climbing from an intraday low of 39.78, its weakest since late November.
Shares pared opening losses of 11.5 per cent as trade resumed after the sharp opening falls had triggered an automatic halt.
Foreigners sold $1.4 billion worth of shares in the last three days of last week. In 2007, foreign funds bought a record $17.4 billion of stocks, and this was a key driver for the rupee's rise of more than 12 percent.
At 11:15 am rupee at 39.665/675 per dollar, weaker than the previous finish of 39.555/56, but climbing from an intraday low of 39.78, its weakest since late November.
Shares pared opening losses of 11.5 per cent as trade resumed after the sharp opening falls had triggered an automatic halt.
Foreigners sold $1.4 billion worth of shares in the last three days of last week. In 2007, foreign funds bought a record $17.4 billion of stocks, and this was a key driver for the rupee's rise of more than 12 percent.
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