Business

Rupee posts smart gains

MUMBAI JUNE 26. The rupee posted smart gains against the U.S. currency today, backed by strong dollar supplies from exporters and partly aided by sustained weakness of the greenback against other major units. In fairly active trading at the interbank foreign exchange market, the rupee closed at 48.86/87 a dollar, sharply higher from Tuesday's finish of 48.8975/9025. It touched the day's peak of 48.84/85 following a firm start at 48.89/90.

Healthy exporter dollar sales, led to unwinding of long dollar positions by banks and despite dollar demand from State-run banks, the rupee scored sharp gains. — PTI

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