Today in New Delhi, India
Sep 22, 2018-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Rupee ends at more than two-month high of 49.30 against dollar

Completing three straight sessions of appreciation, the Indian rupee today shot up by 62 paise to close at a two-and-a-half month high of 49.30/31 against the US dollar on the back of sustained capital inflows amid late recovery in local equity markets.

business Updated: May 05, 2009 20:19 IST
PTI

Completing three straight sessions of appreciation, the Indian rupee today shot up by 62 paise to close at a two-and-a-half month high of 49.30/31 against the US dollar on the back of sustained capital inflows amid late recovery in local equity markets.

A weak dollar against some Asian currencies, dollar selling by multinational banks as well as expectations of increased foreign funds inflow in share markets after a strong rally also boosted rupee sentiment.

In active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed strong at 49.60/62 a dollar from its previous close of 49.92/94.

It moved in a range of 49.70 and 49.28 before concluding at 49.30/31 per dollar, the level not seen since February 16, 2009, when it was closed at 48.82/83.

In the three sessions, the rupee has gained by 121 paise or 2.40 per cent.

According to a forex dealer, heavy foreign funds inflows in local equity markets mainly supported the rupee.

However, a negative turnaround in local equity markets might cap the rally in the rupee, an analyst said.

The Indian benchmark Sensex recovered its early losses, and ended nearly flat at 12,131.08.

First Published: May 05, 2009 20:05 IST