Indian rupee extends gains to fresh 3-week highs

  • Reuters, Mumbai
  • |
  • Updated: Dec 31, 2010 15:12 IST

The Indian rupee rose to fresh three-week highs on Friday afternoon, helped by sharp losses in the dollar versus majors and tracking gains in local shares, which raised hopes for more foreign fund inflows.

* At 3:03 pm, the partially convertible rupee was at 44.81/82 per dollar, after hitting 44.7950, its strongest since Dec 7 and above 44.95/96 at close on Thursday.

* The index of the dollar against six major currencies was down 0.4% at 79.224 points.

* The Swiss franc touched a record high against the dollar on Friday and was within reach of a record peak against the euro, though trade was thin on the last trading day of the year.

* Indian shares were trading up 0.6% in low-volume year-end trading and looked set to notch their first monthly gain in two, but profit sales were likely following a rally in the two previous sessions.

* In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were both at 45.0325, with the total traded volume on the two exchanges at $1.7 billion.


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