Rupee up 35 paise against dollar | business | Hindustan Times
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Rupee up 35 paise against dollar

business Updated: Dec 18, 2008 10:14 IST
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The Indian rupee on Thursday appreciated further by 35 paise against the greenback in early trade on increased dollar selling by exporters and rising capital inflow by foreign funds after the US Federal reserve cut interest rate to an almost zero-level.

Dollar weakness against some Asian currencies also supported the rise in the rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 47.32 against the US currency, a rise of 35 paise over the previous close of 47.66/67.

Forex dealers said exporters selling dollar and foreign funds pumping in money, pushed the rupee higher.

The US dollar came under pressure and weakened against the basket of Asian currencies after the Federal Reserve slashed interest rates to almost zero (0.25 per cent) and pledge broad support to revive the economy.

The rupee in the last trading session had appreciated by 25 paise at 47.66/67.