Date:06/05/2008 URL: http://www.thehindu.com/2008/05/06/stories/2008050655391500.htm

Business

Rupee recovers

MUMBAI: The rupee gained four paise at 40.60/61 against the dollar on Monday to snap a four-day losing streak amidst expectations of increased capital inflows. The Indian currency had fallen by 52 paise, or 1.3 per cent, in the last four sessions.

At the interbank foreign exchange market, the rupee surged to 40.52 level after resuming steady at 40.65/66 a dollar against Friday’s close of 40.65/65.

The rupee premiums on forward dollar ended lower on fresh receiving by exporters. The rupee is expected to remain range-bound on Tuesday. — PTI