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Rupee regains strength

MUMBAI: The rupee regained strength against the U.S. currency and closed slightly higher at 45.9575/9650 a dollar on fresh dollar sales, reportedly by state-run banks.

The Indian currency opened on a better note at 45.96/97 and moved up further to hit a high of 45.9200. Later, it closed at 45.9575/9650 against 45.97/98 previously.

The rupee had hit a three-month low of 46.57 last week and demand for dollar was increasing which was a matter of worry, a dealer said. However, any further loss in rupee value was halted by suspected intervention by the Reserve Bank of India as state-owned banks were selling dollar at various levels on behalf of the central bank, he said. — PTI

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