Rupee pulls through against USD, by 41 paise
Earlier today, Indian currency was seen recovering sharply against the greenback by 41 paise. The shift was resulted by exporters selling fresh dollar despite the fact that a rise has been noted in firm equity market and crude oil prices.
The local currency moved to at 44.35/36 against 44.64/65 the close of last weekend, the currency further flattened to 44.23/25, in trade of late morning at Interbank Foreign Exchange (forex) market.
Many dealers believe that the sharp opening of rupee is a direct result of augmentation in equity bazaar. In early trades, Indian benchmark Sensex was cited 3.92 percent higher or 568 points.