Date:05/07/2006 URL: http://www.thehindu.com/2006/07/05/stories/2006070507901500.htm

Business

Rupee recovers

MUMBAI: The rupee on Tuesday recovered smartly and closed with a gain of seven paise at 45.99/46.00 a dollar on dollar sales and steady foreign institutional investment inflows.

In dull and range-bound trading at the interbank foreign exchange market here, the rupee opened higher at 46.00/02 and later moved in a small range, as trading was affected by poor attendance in the dealing room.

The Reserve Bank of India fixed the reference rate for the U.S. dollar at Rs. 46.01. — PTI