Date:25/12/2007 URL: http://www.thehindu.com/2007/12/25/stories/2007122559581500.htm

Business

Rupee rises 10 paise against $

MUMBAI: The rupee on Monday ended stronger by 10 paise at 39.44/45 against the U.S. currency, following a sharp rally in equity markets, amid month-end dollar demand by oil refiners.

In an active trade at the interbank foreign exchange market, the rupee fluctuated in a range of 39.42 and 39.53 during the day after resuming firm at 39.45/46 a dollar from the previous close of 39.54/55. Strong Asian equity markets coupled with anticipation of portfolio inflows into the fast growing economy boosted the rupee sentiment, forex dealers said.

The rupee came under pressure initially due to month-end dollar demand. — PTI