Rupee rises marginally; ends at 40.37/38 against USD

Mumbai, July 17: Rupee today ended stronger at 40.37/38 against per US dollar, compared to 40.36/37, as capital inflows poured into record-setting local stocks, dealers said.

Rupee opened stronger at 40.34 per dollar, up by 2 paise against the previous close of 40.36/37.

According to dealers, the Indian unit is likely to appreciate further in during sessions.

During the intra-day trade, rupee touched low of 40.37 and is currently trading at this level.

Rupee ended at 40.36/37 per dollar, edging up from 40.37/38 on Monday, when had risen as far as 40.30 -- just below a nine-year high of 40.28 hit in May.

A bullish stock market and expectations of strong economic growth have attracted capital inflows, pushing the rupee up by about 9.5 per cent this year and making it the best performing currency against the dollar in 2007.

The Reserve Bank of India (RBI) today fixed the reference rate at Rs 40.36 per US dollar, up by a paisa compared to its yesterday's rate of Rs 40.37 per USD, a RBI Spokesperson said.

UNI