Forex

Rupee gains on strong euro, dollar inflows

Our Bureau Mumbai | Updated on January 13, 2012

RUPEE

rupee

The rupee continued to gain on the back of dollar inflows and strengthening of the euro against the dollar. Close to 3.30 p.m., the rupee was at 51.41, after touching a high of 51.24 during the day.

The rupee had last touched levels of 51.24 more than a month ago, said a forex dealer. On Thursday, the rupee had closed at 51.61 against the dollar.

Dollar buying by oil companies led to the rupee coming off the days’ highs, the dealer added.

The dollar inflows are both from foreign institutional investors into the debt market as well as from non-resident individuals in NRI deposits.

The strengthening of the euro against the dollar also helped the rupee.

Published on January 13, 2012

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