Online edition of India's National Newspaper
Tuesday, Jan 24, 2006
Online edition of India's National Newspaper Tuesday, Jan 24, 2006 |
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MUMBAI: Extending the weekend rally, the rupee on Monday notched up another four paise gain to close at 44.20/21 a dollar, helped by sustained trade and foreign institutional investment inflows on the back of a sliding dollar overseas even as flaring crude oil prices limited gains to the minimum. In an upbeat mood on the interbank foreign exchange market, the rupee opened distinctly firm at 44.07/09 following the U.S. currency's tumble against major global currencies, mainly the euro and the British pound sterling. The rupee closed at 44.24/25 last Friday. The domestic unit has appreciated by 20 paise in three consecutive trading sessions after a plunge to 12-day closing low of 44.41/42 last Wednesday.World crude prices soared briefly above $69 a barrel on Monday before settling at $68 due to supply concerns. The RBI fixed the reference rate for the U.S. currency at Rs. 44.15 and for the single European unit at Rs. 54.06. — PTI
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