Rupee rose against US dollar on strong local shares

The Indian rupee rose against US dollar on Tuesday helped by foreign fund inflows on the back of strong local stocks, though the rally may not last much longer due to lack of a concrete euro zone debt plan.

Rupee future for October 2011 contract rose as much as 0.035 paise to Rs. 49.0650 per dollar on the National Stock Exchange (NSE) at 11.54am.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3645 per euro (USD appreciated by 0.06 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5624 per pound (USD appreciated by 0.26 per cent against GBP) at 11.57 AM today.

S&P CNX NIFTY, at NSE, traded at 5,005.75, up by 0.53 per cent, after opening at 5,019.90 against the previous closing of 4,979.60. It touched the intra-day high of 5,045.10 till the trading. (At 11.52 AM today).

At NSE, USDINR for October 2011 contract traded at Rs. 49.0650 per dollar, rupee appreciated by 0.035 paise, after opening at Rs. 49.6500 against the previous closing price of Rs.49.1000. It rose to Rs. 49.6500 per dollar with a business volume of 465217 lots till the trading. (At 11.54 AM today).

Read more about: dollar, equities, shares
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