The Hindu Business Line : Rupee tad higher

The rupee appreciated by 13 paise against the dollar on Thursday, buoyed by the positive sentiments in the domestic equity markets. The currency opened at 49.90 and weakened to touch an intra-day low 49.95/96. It then recovered to touch an intra day high of 49.52 before weakening to close at 49.88, against the previous close of 50.01. Fall in oil prices, expectations of further steps by the Reserve Bank of India and the government to boost the economy and a drop in inflation figures lifted the sentiments in the forex markets, said a dealer with a public sector bank.Big corporate houses were seen buying dollars in the latter half of trade, added the dealer. In the forward premia market, there was not much movement as the premiums were range bound, the dealer said. - Our Bureau

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