BUSINESS

Rupee edges up

MUMBAI DEC. 4. Maintaining a relatively firm trend against the U.S. currency, the rupee notched up yet another paisa gain to close at 45.6150/6250 a dollar today on the back of a steady stream of foreign fund inflows even as the dollar hit fresh record lows against the Euro. In mostly quiet and range-bound trade at the interbank foreign exchange market, the rupee was confined to a narrow band of 45.6100 and 45.6350 in muted business after opening around the overnight finish of 45.6250/6350 a dollar. Submerged under yet another wave of selling, the dollar weakened against most of its major global rivals Wednesday, hitting fresh lows against the Euro.

Stretching gains to the sixth straight trading day, the rupee has appreciated by around 32 paise since November 27, propelled by strong foreign fund inflows and expatriate remittances. — PTI

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