Rupee shoots up to 49.30 against dollarMay 5th, 2009 - 9:29 pm ICT by IANS
Mumbai, May 5 (IANS) India’s rupee Tuesday shot up 62 paise to close at a two-and-a-half month high of 49.30/31 against the US dollar, thanks to sustained capital inflows and the recent rise in the equities markets.
During the trade at the Interbank Foreign Exchange (Forex) market, the domestic unit resumed strong at 49.60/62 against the dollar from its previous close of 49.92/94.
The rupee traded in the range of 49.70 and 49.28 before concluding at 49.30/31 per dollar, the level not seen since February 16, 2009, when it closed at 48.82/83.
In the three sessions, the rupee has gained by 121 paise or 2.40 percent.