Re opens flat at 44.38/39 per USD, gains four paise

Mumbai, Mar 2 (UNI) The rupee today opened flat at 44.38/39 against the US dollar as compared to yesterday's close of 44.3650/3750 in the forex market here, a dealer said.

The rupee was trading four paise stronger at 44.34/35 in the mid-morning session.

Besides good foreign fund inflow of Rs 201.80 crore in the equity markets, the Bombay Stock Exchange (BSE) benchmark index was up by 68 points at a new all time high of 10,634 points at 1116 hrs, which was supporting rupee at the upper levels.

In the last three trading sessions, the equity markets had seen an inflow in excess of Rs 1500 crore but the momentum seems to be slowing down as indicated by a Rs 1001 crore inflow on Friday.

However, the crude oil prices at USD 62.25 a barrel in the New York Mercantile Exchange(NYMEX) was limiting the rupee's upward move somewhat.

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