Money & Banking

Rupee up 8 paise against dollar

PTI Mumbai | Updated on March 09, 2011

The rupee ended higher by 8 paise to 45.00/01 against the US currency on fresh sale of dollars by banks amid a firm trend in the equity market, despite gains registered by the dollar overseas.

Forex dealers said that fresh sale of dollars by banks on hopes of capital inflows from foreign funds in view of a firm trend in the equity market supported the rupee's rise against the greenback. Helped by abating political worries and softening global crude oil prices, the Bombay Stock Exchange benchmark Sensex settled at 18,469.95 points, a gain of 30.30 points, or 0.16 per cent, from its last close.

Meanwhile, crude oil prices softened to about $104 a barrel on the New York Mercantile Exchange. In London, the euro fell against the dollar settling well below four-month highs as investors switched focus back on the euro zone's debt problems and away from expectations of a rise in interest rates. The rupee resumed slightly higher at 45.05/06 a dollar as against Tuesday's closing of 45.08/09 and firmed up further to 44.95 before settling at 45.00/01.

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Published on March 09, 2011
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