Rupee surges by 20 paise at 48.43 dollar

September 11, 2009 10:27 am | Updated 10:27 am IST - Mumbai

The Indian rupee strengthened by 20 paise against the US currency in opening trade on Friday in anticipation of increased capital inflows as the stock markets may continue to rise on firmness in other Asian markets and a weak dollar overseas.

Dollar selling by exporters also supported the Indian rupee.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 20 paise to quote at 48.43 a dollar over previous close. The Rupee had ended 12 paise lower at 48.63/64 in volatile trade yesterday.

Forex dealers said hopes of increased capital inflows as markets may open in positive territory in tandem with other firming Asian markets, up almost 0.75 per cent in morning trade, and dollar selling by exporters were boosting the rupee sentiment.

Meanwhile, the BSE Sensex had rallied over 818 points in the past five sessions.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.