Rupee continues to be stronger against dollar

Mumbai, May 24: Rupee maintained strength when market opened today to trade at 40.56/57 per dollar, very close to the recent nine year peak of 40.51. The local currency had closed the trade at 40.55/56 yesterday.

The fear of central bank intervention on Rupee prevailed among investors in the morning session, dealers said.

The Reserve Bank has bought USD 2.3 billion in March in a bid to contain the surging rupee, dealers added.

UNI