Forex resumes near 7 yr high at 43.23/25 per USD

Mumbai, Apr 3: The Rupee opened near seven-year-high at 43.24/25 per US dollar compared to 43.48/50 on the previous day's close on fresh buying support of dollar by bankers, dealers said.

The Indian Rupee climbed towards a recent seven-year high on this morning session in the first trading session since RBI raised rates.

The Rupee was not quoted on yesterday, as banks stayed away from the market to make final settlements for the financial year that ended on March 31, and Tuesday was the first time dealers had a chance to react to an unexpected rate rise late on Friday.

Later, the Indian Rupee was trading between at 43.04/05 and 43.24/25 per dollar,which is not far-off from seven-year high of 43.01 set on 28 March 2007. It ended at 43.48/50 per dollar on Friday (30 March), after falling 1.7 per cent on last Thursday on suspected central bank intervention, dealers added.

UNI