Rupee extends gains

MUMBAI, JAN. 31. The rupee extended its gains rising for the second consecutive day against the U.S. dollar in fairly active trading at the inter-bank foreign exchange market today on good dollar supplies from foreign custodian banks as well as financial institutions.

The Indian unit that was well supported initially in the light of weakened dollar in the global markets and month-end local demand already over, opened better at Rs. 46.40/41 a dollar and later remained range-bound before ending at 46.39/40.

In a consistent two-day upward journey, the rupee has appreciated by over 9 paise due to heavy dollar sales by privatised foreign banks and fresh supplies from foreign custodian banks.

- PTI

Send this article to Friends by E-Mail

Section  : Business
Previous : Sensex down 45 points
Next     : WTO: Can it inspire confidence?