Rupee rises at 47.20 against US dollar

Mumbai, Nov 5: The rupee on Wednesday, Nov 5 opened up at 47.20 against US dollar, compared to previous day's close of 47.70, on heavy selling of dollars by foreing banks and others.

The domestic currency had yesterday closed at a four-week high at 47.70 against the greenback with a big gain of 96 paise. Later, it fluctuated in a narrow range between 47.18 and 47.45 in intra-day trade. Dealers said ''The partially-convertibe rupee rose to a one-month high on Wednesday helped by dollar inflows from a large corporate, but pared gains as the local equity market turned negative after a strong opening.''

UNI