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Rupee gains 12 paise

MUMBAI: The gained by 12 paise at 40.33/34 on Wednesday against the dollar.

In active trade at the interbank foreign exchange market, the rupee opened strong at 40.34/35 a dollar against Tuesday’s close of 40.45/46.

Later, in tune with the movements in stock markets, rupee moved in a range of 40.29 and 40.43 a dollar on alternate bouts of buying and selling.

Meanwhile, the dollar gained sharply against other major currencies in New York last night following the move of the Federal Reserve’s announcement of up to $200 billion package to credit markets to save the U.S. economy from further damage. — PTI

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