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Indian Rupee opens higher on New Year
Mumbai, Jan 1: Indian rupee strenghtened in opening trade for the New Year on Thursday, Jan 1 on hopes for fresh capital flows into local shares after global markets rose, but dollar demand from importers could limit a sharp rise.
At
09:02
am,
the
partially
convertible
rupee
was
at
48.50/58
per
USD
(US
Dollar),
stronger
than
its
previous
close
of
48.70/72.
In
2008
Rupee
had
fallen
19
per
cent,
its
biggest
yearly
fall
since
a
balance
of
payments
crisis
in
the
early
1990s
as
the
global
financial
crisis
triggered
a
surge
in
capital
outflows.
OneIndia News (With inputs from Agencies)
Comments
Story first published: Thursday, January 1, 2009, 11:52 [IST]
