Money & Banking

Rupee strengthens against dollar

PTI Mumbai | Updated on May 10, 2011 Published on May 10, 2011

The rupee symbol.   -  Business Line

Moving in line with the equity market, the rupee advanced by another 10 paise to 44.62 per US dollar in the early trade today on persistent selling of the American currency by banks and corporates on the back of fresh capital inflows from foreign funds.

At the Interbank Foreign Exchange, the rupee resumed higher at 44.65/66 per dollar against the previous closing level of 44.72/73 per dollar and moved up further to 44.62.

At 10.30 a.m., the rupee was quoting at 44.68/69 per dollar. It moved in a range between 44.62 and 44.71 in the morning deals.

Resumption of capital inflows into the equity market from FIIs mainly boosted the rupee value against the dollar, a forex dealer said.

Meanwhile, the euro edged off a three-week low today in the Tokyo market, helped by tentative signs of stability in commodity markets, though the currency remained under pressure over worries about indebted countries in the euro bloc.

Published on May 10, 2011
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