Rupee Dollar Exchange Rate

Following its first ever breach of 80 per dollar, the rupee gained further ground the following day.

Earlier today, Bloomberg reported the rupee trading in a range of 79.9175 to 79.9450 against the dollar.

In response to the Reserve Bank of India intervening to help the rupee, the rupee rose from 80.0600 to 79.9487 yesterday.

After closing Tuesday at 79.92, the rupee gained two paise in early trade to 79.94 against the dollar.

Share markets in India rose 1.2% as Asian currencies traded mixed against the dollar.

A better energy outlook for Europe eased the fears regarding energy shortages and boosted the euro's overnight bounce.

Last week, after fears about a sharp downturn in the eurozone, the euro broke parity for the first time in two decades.

Its two-decade peak of 109.29 last week was far from its recent level of 106.58.

In early Asian trade, oil prices fell slightly as central banks battle inflation and US oil inventories are expected to rise as demand weakens.

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