Friday, Jul 01, 2005
Friday, Jul 01, 2005 |
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MUMBAI: Despite residual month-end pressures, the rupee rallied smartly against the U.S. currency on the back of robust foreign fund inflows into the buoyant stock market. In moderately active trading at the interbank foreign exchange market, the rupee ended at 43.51/52 a dollar, an increase of five-and-a-half paise rise from Wednesday's close of 43.5650/5700 after trading in a range of 43.5050 and 43.5450. The rupee opened on a firm note at 43.54/55. The domestic currency declined by four paise yesterday due to customary month-end dollar demand. Overcoming residual month-end pressures, the rupee surged forward amid healthy foreign institutional investment inflows into the booming stock market with the outlook upbeat for more gains following easing of crude oil prices, dealers said. World crude oil prices slipped to $57.18 a barrel before settling at $57.23 in Asian trade due to unexpected rise in the U.S. crude inventories. — PTI
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