Business Standard

Rupee extends gains tracking local shares

Image

Press Trust of India Mumbai

The rupee extended gains in afternoon trade on Monday as dollar inflows on the back of strong local shares, as well as firm Asian peers, supported the local unit.

* At 1:37 pm, the partially convertible rupee was at 45.4325/4400 per dollar, stronger than 45.68/69 at Friday's close.

* Indian shares were trading up 2.2%, with financials and engineering conglomerate Larsen & Toubro leading the rise while strong Asian markets also underpinned sentiment.

* The index of the dollar against six major currencies was down 0.12% at 78.371 points. Almost all Asian currencies rose on the dollar.

* One-month offshore non-deliverable forward contracts were quoted at 45.66, weaker than the onshore spot rate.

* In the currency futures market, the most traded near-month dollar-rupee contracts on the National Stock Exchange, the MCX-SX and the United Stock Exchange were at 45.5325, 45.5325 and 45.5350 respectively.

Total traded volume was at about $2.9 billion.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 14 2011 | 10:30 AM IST

Explore News