Mumbai, April 20: The rupee today appreciated by 16 paise to close at more-than a week’s high of 44.32/33 against the US currency on the back of strong equities despite a weak dollar overseas.
Dealers said that the sale of dollars by exporters and some banks too aided the rupee’s firm trend.
The Bombay Stock Exchange benchmark Sensex today closed higher by 349.15 points or 1.83 per cent, which mainly supported the rupee.
Foreign Institutional Investors (FIIs) pumped in USD 461.97 million on April 19 as per SEBI data.
Meanwhile, London brent crude oil was trading below USD 123 a barrel in London today.
Pramit Brahmbhatt, CEO, Alpari Forex (India) said, “Today rupee appreciated by 0.36 per cent, taking cues from the local equities which traded positively throughout the day.
Looking towards the dollar we can expect spot rupee to touch 44 levels.
–Agencies