Rupee appreciates by 28 paise per dollar

Business

oi-Sneha

By Sneha B K

Published: Tuesday, January 10, 2012, 11:55 [IST]

The partially convertible Indian rupee appreciated on Tuesday, with the rise in local equities and strong Asian cues. Rupee appreciated by 28 paise to Rs 52.22 per dollar on the Interbank Foreign Exchange.

The rupee sentiment was boosted by weaker dollar and positive opening in domestic stock market. Rupee generally follow the footsteps of Euro, if euro is rising against the dollar, same trend can be visible in the Indian currency as well.

The Indian rupee gained confidence after euro and other currencies posted gains against US dollar.

The Indian rupee opened at 52.40 per dollar versus 52.51 on Monday.

The domestic currency lingered in a range between Rs 52.22 and Rs 52.40 per dollar during morning deals.

Meanwhile, the BSE was seen trading at 16093.52 up by 78.80 points or 1.76%. The 50-share NSE was at 4829.15 up by 86.35 points or 1.82%.

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