Rupee appreciates 18 paise to 48.52/dlr in early trade

The Indian rupee on Friday appreciated by 18 paise to 48.52 against the US currency in early trade on fresh dollar sales by exporters amid a slide in the American currency against major world currencies.

The Indian rupee on Friday appreciated by 18 paise to 48.52 against the US currency in early trade on fresh dollar sales by exporters amid a slide in the American currency against major world currencies.

In quiet trade at the Interbank Foreign Exchange (forex) market, the domestic currency resumed steady at 48.68/70 a dollar and later firmed up to 48.52 level before being quoted at 48.63/64 a dollar in late morning trade.

Forex dealers said the rupee continued drew support from weak dollar overseas and some selling by exporters at home. The dollar dropped against major currencies in New York Exchange yesterday.

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!