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Rupee strengthens
MUMBAI
DEC. 10.
Braving initial blips, the rupee strode to a fresh three-week peak against the U.S. currency today, as sustained trade and capital inflows outweighed demand from corporates and state-run banks to extend gains to the tenth consecutive session.
In choppy two-way trading at the interbank foreign exchange market, the rupee closed at 45.5150/5250 a dollar, yet another 1-1/4 paisa rise from overnight closing of 45.5275/5375 after dipping to early low of 45.57/58. It opened on a weak note at 45.54/55.
The rupee has now appreciated by nearly 47 paise since November 27, when it started its north-bound journey, driven-up by robust trade and capital inflows, coupled with a lingering weak dollar against major global currencies.
PTI
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