Rupee bounces back by 18 paise, ends at 62.50

The currency ended on a positive note on selling of dollars by banks and exporters on expectation of resumption of foreign capital inflows into equity market

The rupee ended the financial year on a positive note, by rising 18 paise to 62.50 against the dollar on Tuesday, on selling of the US currency by banks and exporters, on expectation of resumption of foreign capital inflows into equity market. The rupee had ended at 59.91 in FY14.

"Sustained capital outflows amid firm dollar in Asian trade today capped the rupee rise," a dealer said.

At the interbank foreign exchange market, it commenced better at 62.62 against previous close of 62.68. It moved in a limited range of 62.67 and 62.48 before ending at 62.50., showing a gain 18 paise or 0.29 per cent.

Yesterday, it depreciated by 26 paise or 0.42 per cent.

The benchmark BSE Sensex ended lower by 18.37 points or 0.07 per cent at 27,957.49.

Meanwhile, Foreign Portfolio Investors (FPIs) sold shares worth Rs 240.34 crore yesterday, as per provisional data.

The dollar index was quoted higher by 0.49 per cent against its six major global rivals in Asian trade.

Global oil prices fell in Asia today as dealers monitored last-ditch efforts between global powers and Iran to reach a deal on Tehran's nuclear programme and ease sanctions imposed on the crude producer.

The US benchmark West Texas Intermediate fell 69 cents to USD 47.99 while Brent eased 55 cents to USD 55.74 in mid-day trade.