Dollar traded for Rs160.42 with 58-paisa gain in early trading

The US dollar got a big boost on Wednesday morning when it gained 58 paisas in interbank exchange in interbank trading during early trading, reported 24NewsHD TV channel.

In this way, the dollar again crossed the Rs160 mark and was available for Rs160.42.

Last month, the world’s dominant currency had reversed the months-long trend of shedding value against the rupee and at one point surged over the Rs161 level with around Rs2.60 gain within a week.

However, the local currency later stemmed the downward movement and regained some of the value that it had lost, pushing the dollar back below the Rs160 level.

It’s a developing story. Details to follow according to the currency market changes and closure.