Rupee appreciates further

27/12/2012 09:56 AST

Indian rupee appreciated further by 11 paise to close at one-week high of 54.84 against the Greenback on the back of smart rise in local equities amid sustained dollar selling by exporters. Sluggish dollar overseas amid continued capital inflows also boosted the rupee sentiment.

At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed lower at 55.07 a dollar from Monday's close of 54.95 and fell further to a low of 55.10 on month-end dollar demand from importers, mainly oil refiners.

However, firm local stocks amid late dollar selling by exporters helped the rupee to bounce back to a high of 54.81 before concluding at 54.84, showing a net rise of 11 paise or 0.20 pct. On Monday, it had gained by 11 paise or 0.20 per cent. The dollar index, a gauge of six major global currencies, was down by 0.1 per cent as traders warily eyed the soon-to-resume US budget talks on a deal to avert the fiscal cliff.


Press Trust of India

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