Rupee gains further, up 38 paise against US dollar | business | Hindustan Times
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Rupee gains further, up 38 paise against US dollar

The rupee rose further by 38 paise to 10-week high of 49.70 against the US dollar on sustained selling of the American currency by banks and exporters amid good inflows into the equity markets.

business Updated: Jan 27, 2012 12:12 IST

The rupee rose further by 38 paise to 10-week high of 49.70 against the US dollar on sustained selling of the American currency by banks and exporters amid good inflows into the equity markets.

The rupee opened higher at 49.72/73 per dollar at the Interbank Foreign Exchange (Forex) market from Wednesday's close of 50.08/09 per dollar and strengthened further to 49.70 before quoting at 49.75/76 at 10:30am.

It has moved between 49.70 and 49.82 per dollar in the morning deals.

Forex dealers said the domestic currency gained because of persistent selling of US dollars by banks and exporters amid capital inflows from foreign funds into equity markets.

The BSE 30 scrip index, Sensex, was trading 112.18 points or 0.66$ up in the early trade. It had opened even higher today.

Meanwhile, crude oil prices moved up 31 cents to $100.01 a barrel in the morning trade.