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Rupee gains four paise in early trade

Rupee gains four paise in early trade
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First Published: Mon, Jul 07 2008. 12 55 PM IST
Updated: Mon, Jul 07 2008. 12 55 PM IST
PTI
Mumbai: The Indian rupee appreciated by four paise to 43.11/12 against the dollar on 7 July, as the stocks surged for another day, while global oil prices eased moderately in Asian trade.
At the Interbank Foreign Exchange (forex) market, the local currency resumed higher at 43.11/13 per dollar from its previous close of 43.15/16 and later ruled steady at 43.11/12 a dollar in late morning deals.
Dealers said there was little activity in the exchange market during early trade, but the rupee improved further amid a fresh surge in equity markets.
The domestic unit drew support from expectations of fresh capital inflows following reports that the number of overseas portfolio investors registered with the market regulator Sebi have increased to 1,400.
Indian benchmark Sensex this morning was up 288 points at 1030 hrs on fairly heavy buying support. PTI JCG ARR KD
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First Published: Mon, Jul 07 2008. 12 55 PM IST
More Topics: Rupee | Dollar | Foreign Exchange | Sensex | Oil |