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Rupee continues to rise
MUMBAI:
The rupee on Thursday closed higher at 46.41/42 against 46.47/48 a dollar on exporters strong dollar sales and unwinding of long dollar positions by foreign banks.
The rupee even withstood the effect of heavy selling in British pound sterling trigsgered by news that British intelligence agencies had unearthed a major terrorist plot to bring down a number of aircraft through mid-flight explosions.
The rupee strengthened to 46.37/38 during the day but met with strong resistance as the pound sterling came under heavy pressure, providing support to the dollar, a leading forex dealer said.
Meanwhile, the Reserve Bank of India fixed the reference rate for the U.S. currency at Rs. 46.43 and for the single European unit at Rs. 59.84. — PTI
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