Rupee ends at 46.30/31 against dollar; gains 20 paise

Mumbai, Nov 11 (PTI) The rupee Wednesday surged by 20
paise to nearly three-week high of 46.30/31 against the US
currency with dollar plunging to 15-month low against its
European rivals in overseas markets.

Dealers at the Interbank Foreign Exchange market said the
rupee drew support mainly from weakness in dollar against a
basket of currencies. The dollar fell to a 15-month low after
indications that US interest rates will remain near zero for
some time.
They said a rally in equity markets on the back of
sustained capital inflows also helped the domestic unit to
gain against the US currency.
The Indian benchmark Sensex Wednesday shot up 409 points
or 2.49 per cent, while Asian indices closed in the positive
terrain.
Rupee had surged by 2.0 per cent since November 4 but
took a brief pause Tuesday easing by five paise in line with
downward correction in local stocks.
The domestic unit rallied smartly after resuming steady
at its previous closing level of 46.50/51 a dollar.
Meanwhile, India's exports fell 11.4 per cent to USD 12.5
billion in October 2009 amid reports that the government has
finalised sweeping changes to the country's foreign direct
investment (FDI) policy. MORE PTI JCG
ANU


The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.