As Against Dollar, Rupee Gains 15 Paise

India recovered 15 paise to Rs 44.35 as against the US dollar on the fresh selling of the American currency by banks and exporters while expecting resumption in the foreign capital inflows into the rising equity market.

The rupee value was boosted by hopes of resumption in capital inflows from foreign funds into the equity markets, as banks as banks and exporters preferred to reduce their dollar stocks at the current stage.

The rupee resumed higher at Rs 44.38/39 per dollar on the Interbank Foreign Exchange as against the last close of Rs 44.50/51 per dollar and moved up further to Rs 44.35 per dollar before quoting at Rs 44.37/38 per dollar at 1030 hours.

Source: http://www.rediff.com/business