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Rupee stays up on strong shares, weak dollar

Rupee stays up on strong shares, weak dollar
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First Published: Thu, Jul 07 2011. 03 30 PM IST
Updated: Thu, Jul 07 2011. 03 30 PM IST
Mumbai: The rupee strengthened on Thursday, buoyed by strong domestic shares and broad dollar strength.
At 3:08pm, the partially convertible rupee was at 44.4275/4325 per dollar, stronger than 44.4750/4850 at close on Wednesday.
Shares rose more than 1% on Thursday taking cues from firm Asian markets and on optimism quarterly earnings that start next week could be better than expected.
Foreign funds have pumped in $2.2 billion over nine sessions to Tuesday, latest data from the Securities and Exchange Board of India showed, as global appetite for risky assets perked up.
The index of the dollar against six major currencies was down 0.04% at 75.092 points.
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First Published: Thu, Jul 07 2011. 03 30 PM IST
More Topics: Markets | India | Rupee | Currency | Foreign Exchange |