Indian rupee rose marginally by 2 paise to 46.32 in opening trade on Friday, extending its rally for the sixth session, on hopes of more capital inflows by funds after better-than-expected results by IT major Infosys Technologies and firming trend on other Asian bourses. However, dollar's gains against major currencies capped rupee rise.
Indian rupee rose marginally by 2 paise to 46.32 in opening trade on Friday, extending its rally for the sixth session, on hopes of more capital inflows by funds after better-than-expected results by IT major Infosys Technologies and firming trend on other Asian bourses. However, dollar's gains against major currencies capped rupee rise.
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At the Interbank Foreign Exchange (Forex) market, the local unit appreciated by 2 paise to 46.32, the highest since September last year. Yesterday, the Indian rupee ended 32 paise higher at 46.34/35 against the US currency on continued dollar selling by corporates and exporters.
Forex dealers said expectations of increased capital inflows by foreign funds into equity markets mainly supported the Indian rupee but recovery in dollar against other major currencies restricted rupee's gains.
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