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Rising forex reserves, foreign fund inflows to support rupee

Written by: Staff

Mumbai, Feb 26 (UNI) The rupee ended higher on Friday at Rs 44.43/44 per dollar as compared to last week's close of 44.46/47.

The liquidity driven bull-run in the stock markets kept the Indian unit stable with the Bombay Stock Exchange (BSE) Sensex gaining 219 points over the last week on the back of Rs 1890 crore inflow.

Further, an inflow of Rs 760 crore of foreign fund in equity markets on Thursday will comfort the rupee on Monday, when the forex market opens for trading.

The domestic currency also gained due to the weakening of the dollar versus other Asian units in the international market. The rupee will be tracking the US dollar next week too.

Encouraging foreign fund flow in the equity market and rising foreign exchange reserves for the fifth week in a row by USD 811 million to USD 141.2 billion should comfort the rupee next week.


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