Rupee rises further by 20 paise versus US dollar

Mumbai, Dec 1 (PTI) A smart rally in equities helped the
Indian rupee strengthen further by 20 paise at 46.31/32
against the US dollar amid sustained weakness in the American
currency overseas.

Forex dealers said exporters sold dollars as the
as the American currency weakened further against major world
currencies impacting positively on the rupee sentiment.
Sharp rise in the Indian benchmark sensex for the second
successive day by over 272 points or 1.61 per cent mainly
supported the rupee rise. Brokers said anticipation of capital
inflows further boosted the rupee sentiment.
At the Interbank Foreign Exchange (Forex) market, the
domestic unit moved in a range of 46.24 and 46.49.
Asian indices too ended higher by about 0.9 per cent and
2.4 per cent today while European markets were also trading up
by about two per cent in their early trade.
Expectations of increase in capital inflows too push the
rupee upwards. Foreign Institutional Investors (FIIs) pumped
in nearly USD 1.18 billion in the month of November while
injecting over USD 15 billion in the current calender year.
Meanwhile, global crude oil prices were trading towards
USD 78 a barrel in London today. PTI VMP