Mumbai, September 12: The rupee on Friday gained an impressive 15 paise at 48.48/49 against the US dollar amid sustained capital inflows, positive domestic market and weakening of the US currency overseas.
In the Interbank Foreign Exchange (Forex) market, the domestic unit resumed remarkably higher at 48.45/46 a dollar from Thursday’s close of 48.63/64 a dollar. It immediately touched a high of 48.35 on the back of firm equity markets where the Indian benchmark Sensex was up by over 121 points in morning deals.
Heavy capital inflows also boosted the rupee sentiment. Foreign Institutional Investors
(FIIs) pumped in $626.70 million in four days since September 7, as per Sebi data. Dollar hit a one-year low against a basket of currencies after China’s industrial production grew faster than expected in August.
However, the Sensex pared its early gains on profit- selling and ended up by 47.44 points or 0.29%, weighing on the rupee in later part of the day. Barring Japan and Singapore, other Asian stock markets ended in the green.
The rupee later touched a low of 48.62 when the Sensex dipped in negative terrain in afternoon before recovering to settle the day at 48.48/49.
—Agencies