Rupee opens five paise stronger at 44.40/42 per USD

Mumbai, Mar 20 (UNI) The rupee today opened around five paise stronger at 44.40/42 per US dollar as compared to the last close of 44.45/46, said a foreign exchange (forex) dealer here.

The rupee however, was losing the early morning gains trading at 44.4350/44.4450 per US dollar at 1115 hrs, the dealer added.

Healthy foreign exchange reserves around USD 144 billion and last week's rise by 770 million will definetly boost rupee.

The crude prices in the New York Mercantile Exchange (NYMEX) softened a bit and traded below USD 63 per barrel at 62.87 per barrel will support rupee.

The stock markets were 75 points up at 10,935 points around 1115 hrs this morning which will support rupee at lower levels.

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