Rupee gains 30 paise against USD, closes at 39.89/90
Mumbai,
Sep
20:
The
Rupee
today
moved
up
sharply
by
about
30
paise,
crossed
the
40-level
mark
and
nine-year
peak
of
39.90/91
against
U
S
Dollar,
and
closed
at
39.89/90
on
heavy
capital
inflows
in
active
trade
at
the
Interbank
Foreign
Exchange
(Forex)
market.
Rupee made a firm start in early session at 40.05/06 against the dollar, moving up in a volatile foreign exchange market, before it closed crossing the nine-year peak due to heavy inflows triggered by interest rate cut by the US Federal Reserv, dealers said.
The dealers opined that weak dollar overseas and dollar selling by exporters also helped the rupee to move up, despite spiralling global crude oil prices.
Meanwhile, the global crude oil prices remained high over USD 82 a barrel in Asian trade today.
The Reserve Bank of India (RBI) today fixed the reference rate at Rs 39.91 per dollar. The reference rate was up by 35 paise, compared to previous day's rate of Rs 40.26 per USD.
UNI