Mumbai, October 13:The rupee today rebounded by 15 paise to close at 44.51/52 against the US currency on firm equities amid hectic capital inflows.
Dealers attributed recovery in the rupee to heavy capital inflows to strong local equities. The rupee had lost 24 paise to close at nearly a one-week low yesterday.
Playing a crucial role in the rupee’s rise, Foreign Institutional Investors (FIIs) pumped in equities a record USD 22 billion in the current calender year till October 12.
At the Interbank Foreign Exchange (Forex) market, the local unit opened strong at 44.42/43 a dollar from its last close of 44.66/67 and later touched a high of 44.35.
However, late dollar demand from some banks and importers weighed on the rupee and it fell back to the day’s low of 44.54 before concluding at 44.51/52, still a rise of 0.34 pc.
–Agencies