BUSINESS

Rupee rallies

MUMBAI OCT. 28. Overcoming severe early month-end pressures, the rupee rallied smartly against the U.S. currency today on the back of strong foreign funds and trade inflows in volatile trading at the interbank foreign exchange market.

The rupee closed at 45.31/32 a dollar, a sharp 7-1/2 paise rise from Monday's close of Rs. 45.3850/3950 and a smart rally from early intraday low of 45.46/47. It opened on a distinctly weak note at 45.41/44 in anticipation of the usual month-end dollar demand.

PTI

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