MUMBAI: The rupee on Wednesday ended at 40.9250/9350 against the U.S. currency, stronger by five paise from the previous close of 40.9750/9850, in anticipation of increased inflows amid some dollar demand from oil refiners.

In a dull trade at the interbank foreign exchange market, the local currency moved in a narrow range of 40.90 and 40.94 after resuming firm at 40.90/91.

There was consistent dollar buying in the exchange market, prompted by soaring crude oil prices, which hovered around $74 a barrel in Asian trade, forex dealers said.

The country’s strong economic growth and low inflation rate seemed favourable for the rupee, they said. — PTI