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Rupee gains
MUMBAI:
Overcoming severe month-end pressures, the rupee rallied smartly against the U.S. currency on Tuesday to close higher at 44.63/65 following strong foreign institutional investment inflows amid a rebounding dollar and arrested a five-session sharp slide. In a choppy two-way trading at the interbank foreign exchange market, the rupee gained three paise from Monday's close of 44.66/67 and made a sharp turnaround from early low of 44.74/75 a dollar.
The rupee had depreciated by over 21 paise in the last five straight trading sessions, pulled down by sustained hectic dollar buying by state-run banks. — PTI
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