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Rupee rises further

MUMBAI: In a highly volatile trade, the rupee continued its north-bound journey on Thursday and appreciated by another 14 paise to close at a eight-year high of 42.90/92 against the U.S. currency on account of heavy dollar selling by some banks towards the close of business hours.

At the interbank foreign exchange market, the Indian unit opened better at 42.99/43.01 a dollar from Wednesday's close of 43.04/06. It fell back to 43.21 in intra-day trade due to dollar buying by oil refineries. — PTI

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