Date:29/04/2006 URL: http://www.thehindu.com/2006/04/29/stories/2006042906941500.htm

Business

Rupee extends gains

MUMBAI: The rupee extended overnight gains against the American currency on strong trade inflows amid a retreating dollar overseas, boosted partly by hopes of increased foreign fund inflows after the U.S. Federal Reserve signalled a possible pause in rate hikes.

In a moderately active trade at the interbank foreign exchange market on Friday, the rupee closed at 44.96/98, another five paise gain from Thursday's close of 45.01/02, following a positive start at 44.97/99. — PTI