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Rupee at 1-month high of Rs47.95/dollar

Rupee at 1-month high of Rs47.95/dollar
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First Published: Mon, Dec 15 2008. 09 18 AM IST
Updated: Mon, Dec 15 2008. 09 18 AM IST
Mumbai: The Indian rupee rose to its highest in more than a month in early trade on Monday as gains in Asian stocks buoyed hopes of some fresh capital inflows into the domestic equity market.
At 9:15am, the partially convertible rupee was at Rs47.95/48.03 per dollar, its strongest since 11 November and compared to its previous close of Rs48.43/45.
Asian stocks jumped 4% on Monday on renewed hopes for a bailout of US automakers, improving risk-taking across markets and weighing on the US dollar and Treasuries.
One-month offshore non-deliverable forward contracts were quoting at Rs48.17/32, weaker than the onshore spot rate.
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First Published: Mon, Dec 15 2008. 09 18 AM IST
More Topics: India | Markets | Rupee | US | Asia |