Mumbai, August 03: The Indian rupee today gained 8 paise to 46.16/17 against the US dollar amid selling of the American currency by banks and exporters.
In lackadaisical activity at the Interbank Foreign Exchange, the local unit opened strong at 46.10/12 against the dollar from its last close of 46.24/25.
It later moved in a narrow range between a high of 46.10 and a low of 46.25 before finishing the day at 46.16/17, an increase of eight paise from its previous close, completing its fourth straight session of gains.
Forex dealers attributed the initial surge in the rupee value to firm domestic equities. In addition, sustained capital inflows, coupled with weakness of the dollar overseas, helped the rupee rise.
Foreign Institutional Investors (FIIs) pumped in over USD 187 million into the Indian market on August 2, after injecting almost USD 3.
–Agencies