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Rupee edges up

MUMBAI: The rupee ended slightly up at 39.2950/3050 against the dollar on Friday on fairly heavy capital inflows amid weakness in equity markets and some dollar demand from banks. It closed at 39.3050/3150 on Thursday.

The domestic unit drew support from strong portfolio inflows through the initial public offer route. Reliance Power’s IPO fetched nearly $1 billion this week.

At the interbank foreign exchange market, the rupee resumed weak at 39.35/37 a dollar and later moved in a range of 39.27 and 39.37 during the day. Banks bought dollar due to reporting Friday, forex dealers said. — PTI

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