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Rupee higher on dollar weakness overseas

Rupee higher on dollar weakness overseas
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First Published: Tue, Feb 23 2010. 03 02 PM IST
Updated: Tue, Feb 23 2010. 03 02 PM IST
Mumbai: The Indian rupee rose on Tuesday afternoon as a weaker dollar triggered buying in the local currency from exporters.
The partially convertible rupee was at Rs46.13/14 per dollar, off an early high of Rs46.0650 and stronger than Rs46.21/22 at close on Monday.
The dollar was broadly lower on the day, dipping 0.3% against a basket of currencies.
One-month offshore non-deliverable forward contracts were quoting at Rs46.13/17, little changed from the onshore spot rate.
In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange and MCX-SX were quoting at Rs46.1025 and Rs46.1075 respectively.
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First Published: Tue, Feb 23 2010. 03 02 PM IST
More Topics: Markets | India | Rupee | Currency | Dollar |