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Rupee gains eight paise

MUMBAI: The rupee on Friday closed at a one-year high of 44.11/12 against the dollar, eight paise higher from Wednesday's close of 44.19/20, buoyed by strong equity markets amid possibility of intervention by the central bank.

In lacklustre trading at the interbank foreign exchange market, the Indian unit moved between 44.06 and 44.15.

Forex dealers attributed the rupee rally to dollar's weakness overseas and expectations of sustained capital inflows but expected the central bank's intervention to prevent the currency's further surge. — PTI

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