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Rupee firms up

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MUMBAI: The Indian currency on Friday closed firm after a lower start on the inter-bank foreign exchange market on fresh inflow of foreign funds in to the domestic stock market.

In active trading, the Indian unit opened sharply lower at 44.29/32 a dollar against the last close of 44.18/19 on some month-end dollar demand along with marginally higher world crude prices. However, it recovered smartly and ended at 44.1450/1550. The FIIs made a good comeback and made an impressive net investment of $179.60 million or Rs. 820 crore on Wednesday which boosted sentiment. Meanwhile, the RBI fixed the reference rate for the dollar at Rs. 44.1500. - PTI


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