Rupee gains at 42.34/35 against USD

Mumbai, May 15: Rupee today moved up at 42.34/35 against US Dollar after starting the session on flat note in the opening trade.

Resuming the day almost flat at 42.44/46 per Dollar, the partially convertible Indian currency improved against greenback to touch a high at 42.31 per Dollar in the mid-morning trade as the global crude oil prices soften from their record high at USD 127 per barrel attained yesterday, dealers said adding that few foreign banks were also seen selling Dollars at high rates in the currency market.

Indian equity market mirrored positive sentiments on positive global cues, which also helped the local unit to gain against the foreign currency in the opening session, a senior dealer with a leading private bank said.

UNI