Mumbai, June 18: The Indian rupee gained another 14 paise to close at 46.16/17 against the US dollar on sustained selling of the American currency by exporters and banks in view of the greenback’s weakness in overseas markets.
The Indian rupee resumed higher at 46.18/19 per dollar at the Interbank Foreign Exchange market and shot up to close at 46.16/17 per dollar. It had closed yesterday at 46.30/31 per dollar.
The persistent inflow of foreign funds into domestic equity markets also assisted the rupee’s rise, a forex dealer said.
The rupee premium for the forward dollar also edged up on mild paying pressure from banks and corporates.
The benchmark six-month forward dollar premium payable in November closed slightly higher at 72-74 paise from 71-1/2-73 paise on Thursday and far-forward maturing in May also ended up at 131-1/2-132-1/2 paise from 131-132 paise previously.
–Agencies