Rupee advances by 33 paise against dollar

Jun 29, 2012 |

mumbai

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Moving in line with higher equity market and fund inflows, the rupee advanced further by 33 paise to 56.47 against the dollar on sustained selling of the American currency by banks and exporters.

It resumed higher at 56.55 per dollar as against the last closing level of 56.80 at the Interbank Foreign Exchange (Forex) market and moved between 56.45 and 56.66, before quoting at 56.47 per dollar at 10:45 hrs.

Persistent selling of dollars by banks and exporters on hopes of capital inflows from foreign funds, strong equity markets and weakness of dollar in the overseas market, boosted the rupee value, a forex dealer said.

The Indian benchmark Sensex rose by 335 points or 1.97 per cent in the morning trade.

In Tokyo market, the euro surged 1.2 per cent, poised to make its biggest daily jump in 8 months after European leaders agreed on Friday to create a single supervisory body for euro zone banks and allow them to be recapitalised directly by the currency area's rescue fund, without adding to government debt.

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