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Rupee moves up further

MUMBAI DEC. 17. The rupee strengthened against the U.S. currency today, as healthy foreign fund inflows drove it to a over four-week high, helped partly by positive sentiment, following the upward revision of India's foreign currency rating outlook by Standard & Poor's (S&P's). Gaining another 2-1/2 paise, the rupee closed at 45.51/52 a dollar after moving in a narrow range of 45.5150 and 45.5450 in rather quiet dealings at the interbank foreign exchange market. It opened on a firm note at 45.53/54 against Tuesday's close of 45.5350/5450, following an overnight two paise gain.

TheReserve Bank of India fixed the reference rate for the U.S. currency at Rs. 45.54 and for the single European unit at Rs. 56.08. — PTI

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