MUMBAI: The Indian rupee on Monday closed higher by 10 paisa at 46.21/22 against the US dollar, after hitting a one-month high of 46 a dollar in early trade, supported by a rise in equity market and a fall in the greenback overseas.
Dealers at the Interbank Foreign Exchange (forex) market said the rupee strengthened as local stocks rallied sharply, raising hopes of more capital inflows. The benchmark Sensex today gained 184 points to close above the 17,000-point level.
Besides, dollar's weakness against major world currencies helped the local unit to move upward. They said the domestic currency also drew support from increased dollar sales by exporters.
The rupee touched a one-month high of 46.00 against dollar this morning after opening firm at 46.12/13 a dollar against the last weekend's close of 46.31/32 per dollar.
Later, it closed at 46.21/22 against the US dollar. Meanwhile, oil was higher at $77.06 a barrel in Asian trade as investors bought into commodities, including crude, on the back of a weak dollar, analysts said.
Dealers at the Interbank Foreign Exchange (forex) market said the rupee strengthened as local stocks rallied sharply, raising hopes of more capital inflows. The benchmark Sensex today gained 184 points to close above the 17,000-point level.
Besides, dollar's weakness against major world currencies helped the local unit to move upward. They said the domestic currency also drew support from increased dollar sales by exporters.
The rupee touched a one-month high of 46.00 against dollar this morning after opening firm at 46.12/13 a dollar against the last weekend's close of 46.31/32 per dollar.
Later, it closed at 46.21/22 against the US dollar. Meanwhile, oil was higher at $77.06 a barrel in Asian trade as investors bought into commodities, including crude, on the back of a weak dollar, analysts said.
POSTED BY:
PALLAVI SINGH
PGDM III SEM
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