Rupee up 50 paise as crude eases
The rupee rose by 50 paise to close at 72.50 to a US dollar on Friday on increased selling of the greenback by exporters amid softening crude oil prices, which slipped below the $70/barrel mark. At the interbank forex market, the rupee opened on a firm note at 72.68 from Tuesday’s close of 73. It climbed to a high of 72.45, driven by dollar selling by exporters, but ceded some ground to finally end at 72.50, up 50 paise over its last close. The rupee had rebounded by 12 paise to end at 73 per US dollar on Tuesday. In the last two trading sessions, the rupee has gained 62 paise.