Rupee improves

By Our Special Correspondent

MUMBAI, SEPT. 20. The rupee inched up against the U.S. dollar at the inter-bank foreign exchange market today. It closed at 46.23/26 a dollar.

Earlier in the day, the rupee touched an intra-day high of 46.08. It lost some of its gains as it closed at 46.23/26, better than the previous close of 46.35/38. It opened today at 46.35/40. The large capital inflows from a telecom company, initiated dollar selling by banks and exporters.

The international prices of crude oil are still ruling high. So there is reprieve from the additional import demand due to higher oil prices.

The rupee failed to sustain its earlier gains during the day and it was felt that in the coming days it might weaken gradually.

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Section  : Business
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