Mumbai, June 21: The Indian rupee rose by 41 paise today to near a five-week high of Rs 45.75/76 against the dollar amid the American currency losing ground against its rivals.
Dealers said rupee took the cue from overseas markets, where the dollar tumbled following China’s steps to let the yuan gain against the American currency.
The rupee resumed higher at 45.70/71 a dollar on the Interbank Foreign Exchange market against its last close of 46.16/17.
It later moved in a range of 45.58 and 45.77 before settling the day at 45.75/76, a rise of 0.89 per cent.
Dealers said with dollar falling in Asia, the possibility of capital inflows increased, making the local currency stronger.
After pulling out nearly USD 2.04 bln in the last month, Foreign Institutional Investors (FIIs) have invested about USD 1.6 bln in the current month till June 17.
–Agencies