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Rupee gains nine paise
MUMBAI:
The rupee on Tuesday continued to rise smartly against the U.S. currency and closed strong at 44.5200/5300 a dollar on heavy foreign funds inflows along with weak dollar in the overseas markets.
In active trading at the interbank foreign exchange market, the Indian unit opened firm at 44.58/60 against Monday's close of 44.61/62 and rose further sharply to close at 44.52/53.
Persistent heavy inflows from foreign institutional investors into the Indian stock markets continued to boost rupee sentiment, forex dealers said.
Rupee sentiment was so strong that a rise in crude oil prices in Asia ahead of the outcome of an OPEC meeting next week was ignored by marketmen. — PTI
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