Re strengthens by 14 paise against $ in early trade
Press Trust of India / Mumbai Jun 05, 2009, 10:11 IST
The Indian rupee strengthened by 14 paise to $47.06 in early trade today. Heavy dollar buying in anticipation of heavy capital inflow by foreign funds as the equity markets may open higher buoyed by the announcement of the Government's 100-day agenda.
At the Interbank Foreign Exchange (Forex) market, the local unit, snapping it three-session losing streak, gained to quote 14 paise higher at $47.06.
The rupee had ended weak by 13 paise at 47.20/21 yesterday.
Foreign dealers said besides banks selling $ in anticipation of capital inflow in equities, Asian currencies trading strong against the greenback in the overseas markets was a reason for the rupee to strengthen.
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