Rupee gains 20 paise against US dollar august 10 2011

Indonesia stock info - Rupee gains 20 paise against US dollar august 10 2011 ; Snapping a six-session losing streak, the rupee appreciated by 20 paise to Rs 45 per US dollar in the early trade at the Interbank Foreign Exchange market today amid weakness of the American currency overseas against other rivals and a rebound in the stock market.

Forex dealers said the dollar’s weakness against the euro and other currencies overseas after the US Federal Reserve announced that it will keep rates low for at least two years and a strong recovery in the domestic stock market helped the rupee to strengthen in the early trade today.

The domestic unit had depreciated by 23 paise to close at a nearly 10-week low of Rs 45.20/21 against the dollar in yesterday’s session on sustained demand for the US currency from importers amid a continued slide in stocks.

Meanwhile, the Bombay Stock Exchange Sensex rose 398.55 points to 17,256.46 in the opening trade today.

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