Rupee Recoups Losses, Tracking Lower Oil And Risk-Assets' Rebound
NDTV
The energy-sensitive rupee jumped nearly 0.5% on Friday, after it suffered its worst session in more than 10 months on Thursday
The energy-sensitive rupee jumped nearly 0.5% on Friday and recouped some losses after it suffered its worst session in more than 10 months on Thursday, supported by a retreat in oil prices and a rebound in domestic equities, tracking the increase in global risk appetite.
Investors' optimism was driven by the coordinated sanctions against Russia that targeted its banks, which helped a tentative rebound in global stocks, with the flight-to-safety trades easing somewhat in bargain-hunting ahead of the weekend.
The rupee was last changing hands at 75.33 per dollar, a gain of about 0.5% from Thursday's close of 75.60, tracking the fall in the greenback against a basket of currencies.
On Thursday, the rupee sank 1.5 per cent, to close at 75.60 against the US dollar, as markets remained on edge over the deepening Ukraine crisis.
