Mumbai, March 30: The rupee today appreciated by four paise to close at 44.74/75 against the US dollar on enlarged portfolio investments due to bullish equities.
Dealers, however, said that some dollar buying by importers, mainly oil refiners, kept the rupee rise under control.
The Bombay Stock Exchange benchmark Sensex today flared up by another 169.38 points or 0.89 per cent, gaining a total 1,203.78 points or 9.87 per cent in straight seven sessions of gains.
Foreign Institutional Investors (FIIs) injected nearly USD 1.02 billion in last six trading sessions since March 22.
Alpari Forex (India) CEO Pramit Brahmbhatt said, “Rupee traded positively today supported by positives in the domestic stock market and strong capital inflows. However, dollar demand by oil importing companies acted as a deterrent.”
“The trading range for the USD/INR will be between 44.55- 45.05 tomorrow,” he added.
–Agencies