Mumbai: Extending its gains for the fourth
straight day, the rupee strengthened by 20 paise in early
trade on Monday at 46.60 against the US dollar on expectations of
more capital inflows into domestic equities that may open
higher in tandem with other Asian markets.
Dollar's weakness against other currencies also supported
the rupee.
At the Interbank Foreign Exchange (Forex) market, the
local unit strengthened by 20 paise to 46.60. The Indian rupee
ended 22 paise higher at 46.80/81 in the previous session on
Friday.
Forex dealers said expectations of continued inflow of
foreign funds into local bourses that may open in the positive
zone tracking other Asian markets pushed up rupee's demand.
Hong Kong's stock exchange Hang Seng opened firm by 1.10
per cent.
Bureau Report
First Published: Monday, November 09, 2009, 10:26