Indian rupee extends gains to fresh 3-week highs
The Indian rupee rose to fresh three-week highs today, helped by sharp losses in the dollar versus majors and tracking gains in local shares, which raised hopes for more foreign fund inflows.business 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.