Rupee opens high at 49.59 per USD

Mumbai, Oct 29: On Friday, Oct 29 the rupee opened higher at 49.59 per US dollar, with a massive gain of 29 paise, from its previous close of 49.88, on fresh buying of dollar from local operators and others. The partially-convertible rupee fluctuated in a wide range between 49.60 and 49.85 per dollar in the intra-day trade. As the forex market was closed on on account of Diwali.

Dealers said, ''Rupee strengthened today as gains in the local stock market raised hopes of some fresh capital inflows, but month-end dollar demand from oil firms and importers was likely to keep a lid on gains.''

UNI