Rupee strenghtens further; trades at 40.52/USD

Mumbai, June 1: Rupee started stronger today at 40.55 per dollar and posted an intra-day high of 40.52 per USD, up from the previous close of 40.60/61.

Strong capital inflows, a major cause that supports local unit to sustain as the strongest Asian currency, continued today, boosting up investor aspirations.

However, Rupees gains were curtailed by the Central Bank move which prompted the State-run banks to buy dollars. The local currency is currently trdaing at 40.58/59.

Rupee, which had hit a fresh nine year peak of 40.28 earlier this week, has gained about 9 per cent on strong capital inflows, said dealers.

UNI