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Rupee spurts
MUMBAI,
SEPT. 14.
Breaching the crucial 46 a dollar barrier, the rupee today spurted to a two-month closing peak of 45.90/91, driven-up by strong trade and foreign fund inflows amidst renewed weakness of the dollar against major global currencies. In fairly volatile trading at the interbank foreign exchange market, the rupee gained a steep 27 paise from yesterday's close of 46.1650/1750 and was now within striking distance of 45.86/87 logged at the close on July 13.
The domestic unit opened distinctly firm at 46.06/09 and hit the day's peak of 45.87/89 on sustained healthy trade inflows amidst a weak dollar overseas.
The rupee has appreciated by a steep 46 paise in the last five consecutive sessions following robust trade and foreign capital inflows in the face of negligible dollar demand from corporates and importers. — PTI
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