Rupee moves higher at 40.33/34 against USD

Mumbai, Mar 12: The Rupee today moved up against US Dollar to 40.33/34 per Dollar on strong gains in Indian and global equity markets.

The partially convertible Indian currency was trading stronger against the green-back from its previous close of 40.45/46 per Dollar, though Dollar-buying by oil companies checked its advance, dealers said. Dealers maintained that the local unit apprciated yesterday as well as today following the smart gain in the local bourses and likely to follow the trend in the near future.

The Indian key indices opened 2.6 percent higher, mirroring most Asian indices, as investors shrugged off fears of a U S slowdown on news the Federal Reserve would inject liquidity into credit markets.

UNI