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Rupee stages rally

MUMBAI: Absorbing heavy dollar demand from oil corporates on the back of soaring global crude prices, the rupee rallied smartly on Wednesday to close higher at Rs. 45.0950/1050 a dollar, driven up by strong trade inflows. In active two-way trade at the interbank foreign exchange market, the rupee notched up a nearly 10 paise gain from Tuesday's close of Rs. 45.17/18 following a distinctly firm start at Rs. 45.12/13 a dollar. It, however, tested lows of Rs 45.17/18 per dollar in early deals. — PTI

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