Rupee rose on foreign fund inflows

The Indian rupee rose against US dollar on Tuesday as a result of increased foreign fund inflows in the midst of firm equity markets. Rupee future for March 2012 contract rises as much as 0.43 paise to Rs. 50.8950 per dollar on the National Stock Exchange (NSE) at 11.51am.

Moreover, the gains in euro and other Asian currencies against the American currency in the overseas market supported the rupee.

At the Chicago Mercantile Exchange (CME), EURUSD future for June 2012 contract traded at US$1.3355 per euro (USD appreciated by 0.0075 per cent against EUR) and GBPUSD future for June 2012 contract traded at US$1.5963 per pound (USD appreciated by 0.02 per cent against GBP) at 11.53 AM today.

S&P CNX NIFTY, at NSE, was trading at 5,216.75, up by 0.63 per cent, after opening at 5,246.05 against the previous closing of 5,184.25. It touched the intra-day high of 5,246.05 till the trading. (At 11.50 AM today).

At NSE, USDINR for March 2012 contract traded at Rs. 50.8950 per dollar, rupee appreciated by 0.43 paise, after opening at Rs. 51.0800 against the previous closing price of Rs. 51.3325. It rose to Rs. 50.6100 per dollar with a business volume of 909099 lots till the trading. (At 11.51 AM today).

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