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Rupee edges up

MUMBAI: The central bank’s monetary policy kept the rupee stable at 39.3850/3950 against a dollar on Wednesday despite the fears of capital outflows from stock markets. It closed at 39.3850 on Tuesday.

The rupee touched the low of 39.4350 a dollar as investors pared rupee holdings following continued bearish trend in equity markets, coupled with the possibility of intervention by the apex bank. The rupee traded in a range of seven paise during the day in nervous trade with foreign funds pulling out nearly $4 billion in the second fortnight of the current month. — PTI

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