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Rupee gains further

MUMBAI: The Indian rupee inched higher against the U.S. dollar on Thursday, supported by capital inflows into the stock market, though dealers said central bank intervention kept a lid on gains.

The partially convertible rupee closed at 39.92/93, off an intra-day high of 39.91, but stronger than Wednesday’s close of 39.96/97. The currency market will remain closed on Friday. “We saw a tight range, marginal rupee appreciation on the back of good equity market performance but we still continue to see central bank intervention.” said the head of trading with a foreign bank. — PTI

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