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Rupee rallies further

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MUMBAI: Absorbing early month-end pressures and a globally strong dollar, the rupee on Wednesday rallied further by three paise to close at 46.79/80 a dollar, helped by a late flurry of dollar sales by banks and exporters in active trading at the interbank foreign exchange market. The rupee recovered by 8-1/2 paise on Tuesday after slipping by 14 paise on Monday due to possible month-end dollar demand. The Reserve Bank of India fixed the reference rate for the U.S. currency at Rs. 46.85 and for the single European unit at Rs. 58.89.


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