Rupee ends higher by 7 paise to 47.49 a dollar | business | Hindustan Times
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Rupee ends higher by 7 paise to 47.49 a dollar

business Updated: Jun 09, 2009 21:00 IST

PTI
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The Indian rupee on Tuesday ended higher by seven paise at 47.48/49 per dollar on expectations of good capital inflow from foreign funds in the equity markets amid weakness of dollar in overseas.

In active trade Interbank Foreign Exchange (forex) market, the domestic currencies resumed lower at 47.65/66 a dollar from its Monday's close and later dropped further to a low of 47.80 due to fall in the equity market in early trade.

The Indian rupee recovered smartly to end at 47.48/49 a dollar, showing a gain of seven paise following recovery in the equity market.

The greenback was trading in green earlier but downward pressure on the dollar emerged after the release of stronger- than expected UK housing figures, which helped to boost the sentiment for non-dollar currencies.

Also, the BSE benchmark Sensex shot up by 461.08 or 3.14 per cent on comments from Prime Minister Manmohan Singh about growth of economy. He said Indian economy can achieve 8-9 per cent growth with a high saving rate.

Oil prices held above $69 a barrel in Asian trade on Tuesday after rebounding from overnight falls amid hopes of a recovery for the ailing global economy.