Rupee gains 16 paise

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MUMBAI: Moving in tandem with the rising stock markets, the rupee on Monday gained 16 paise at 40.27/28 against the dollar despite some demand for the U.S. currency from oil importers.

Forex dealers said expectations of capital inflows aided the rupee sentiment. In active trade at the interbank foreign exchange market, the rupee opened higher at 40.37/38 a dollar from the last weekend’s close of 40.43/44. The rupee is moving taking cues from the stock markets, dealers said. — PTI



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