Rupee touches high of 40.36 in intra-day trade

Mumbai, July 11: Rupee was heading to a nine-year peak, taking cuefrom a globally weak US dollar and as capital inflows remained abundantto domestic equities.

The Indian unit traded at 40.37/38 at 1500 hrs after touching an intra-day high of 40.36 per dollar.

Dealers see a further rally in Rupee value in coming sessionsunless Reserve Bank appears on the scene with monetary measures tocontain the Rupee's gains.

''Dollar is weak. This may add further thrust to Rupee to rise further,'' a leading dealer told UNI.

Rupee, which started at a strong 40.40 per dollar when the tradekicked-off in the morning, soon posted a day's low of 40.43 beforebouncing back to prominent margins. The unit had closed at 40.37/38 perdollar yesterday.

UNI