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Rupee closes at 3-month high

MUMBAI: The rupee on Wednesday shot up to close at a three-month high of 45.9650/9750 a dollar due to heavy inflows of foreign funds into the domestic stock market along with poor demand for dollar from oil companies after crude fell below the $62 a barrel level.

In active trading at the interbank foreign exchange market here, the Indian unit opened weak at 46.0850/0950 against 46.0750/0850 previously. Thereafter, it shot up due to heavy foreign institutional investment inflows into the stock market and closed at 45.9650/9750, a level not seen since June 21. — PTI

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