Mumbai, June 10: The rupee today gained six paise to close at 46.95/96 against the US currency on fresh dollar selling by exporters and banks amid surge in stock markets.
Dealers said exporters sold the dollar on hopes of capital inflow from foreign funds in view of firm equity markets amid weak dollar overseas.
The US dollar lost ground versus most major rivals today while the beleaguered euro edged higher as investors awaited European Central Bank President Jean-Claude Trichet’s monthly news conference for more details on the central bank’s bond-buying programme.
The BSE benchmark Sensex rose by 264.19 points, or 1.59 per cent, as European shares turned positive in early trade.
Most of the Asian stocks ended higher following better- than-expected Chinese exports and assurances from Federal Reserve Chairman Ben Bernanke that the US economic recovery was on solid footing.
The rupee resumed lower at 47.
–Agencies