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Rupee bounces back in morning trade vs dollar

By Staff
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Mumbai, Feb 23 (UNI) The rupee today opened stronger at 44.60/62 against the dollar as compared to Wednesday's close of 44.64/65 at the forex market here, a dealer said.

The local unit appreciated furhter to 44.53/54 in the mid-morning session.

The Indian unit bounced back on strengthening of Japanese yen against the greenback in the international markets.

There was moderate inflow of Rs 125 crore in the booming Indian equity markets on Tuesday as compared to Rs 586 crore on Monday which will keep the rupee well supported at higher levels.

The Bombay Stock Exchange Sensitive Index (Sensex) was trading with 50 points gain at 10,274 around 1200 hrs which is also providing backing to the rupee.

The global crude oil prices were unchanged at USD 61.10 a barrel on the New York Mercantile Exchange(NYMEX), which may put pressure on the domestic currency at lower levels.


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