Rupee opens firm at 39.37/38 per USD

Mumbai, Jan 25: The Rupee today opened stronger by eight paise against US Dollar at 39.37/38 from its previous close of 39.45/46 per dollar on strong inflows in the local equity market in an active interbank foreign exchange (Forex) market.

The partially convertible Indian currency moved up near a decade high of 39.16 against the greenback as there was high inflows in the equity market following the positive note in Asian markets in the early trade.

However, the suspected intervention would prevent any further strong move of rupee against US Dollar, dealers said.

Dealers expect the volumes would be hit by a strike affecting state-run banks, the biggest players in the currency and bond markets.

UNI