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Rupee strengthens further
MUMBAI:
The rupee strengthened further against the U.S. currency on Tuesday on the back of sustained FII inflows amid a retreating dollar overseas even as dollar demand from oil corporates limited gains following a fresh rise in global oil prices.
In a moderately active two-way trade at the interbank foreign exchange market, the rupee closed at 43.53/54 a dollar, another three paise gain from Monday's close of 43.5600/5650 after opening on a firm note at 43.4950/5050.
The rupee appreciated by over five paise on Monday. Strong foreign fund inflows into the buoyant stock markets amid renewed weakness of the dollar in overseas trade fuelled an extended smart rupee rally even as dollar demand from offshore oil companies limited gains, dealers said. — PTI
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