Exchange rates for the rupee

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Tuesday saw the rupee claw its way back up when it made a strong opening at after it dropped to its lowest level in foreign currency exchange trading in a week on Monday.

The Indian unit stood at Rs 44.84 per dollar in early morning activity on June 14th, responding to strong share performance in the country, Commodity Online reports.

Its movement was in line with other regional currencies, with Chinese consumer inflation figures revealed to be in line with forecasts helping to push up Asian markets.

Exchange rates for the rupee could be affected still further when the Reserve Bank of India makes a decision on the nation’s interest rate on Thursday (June 16th).

According to Reuters, gains were also witnessed on Tuesday morning by the South African rand, which climbed to a session high against the dollar of 6.74, boosted by strong global performance among currencies linked to commodities.

The news source suggested positive data from China has also helped to push up the unit, with analysts preparing to examine the Reserve Bank’s latest annual report when it is published later today.

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