The Hindu Business Line : Rupee gains on FII inflows

The rupee gained by almost 11 paise on Tuesday on strong FII inflows into the domestic stock markets. "News about the proceeds from Infosys's issuance of American Depository Receipts entering the market also helped the rupee. This will lead to large dollar inflows," said a dealer at a private bank.

The home currency opened at 45.01/02 and closed at 44.86/87 against the previous close of 44.98 on Monday. "There was no dollar interest among market players," the dealer said. In forwards, the six-month premium closed at 1.91 per cent (1.98 per cent) and the one-year closed at 1.78 per cent (1.83 per cent). The dollar was largely steady against other global currencies.

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