Rupee appreciates to Rs 50.23 per dollar

Business

oi-Sneha

By Sneha B K

Published: Thursday, January 19, 2012, 10:43 [IST]

The partially convertible Indian rupee appreciated for the sixth consecutive day by 15 paise to Rs 50.23 per dollar on Interbank Foreign Exchange on Thursday with the rise in local equities and persistent inflow of foreign fund.

Euro's gains on International Monetary Fund (IMF) plans to expand its lending resources to aid Europe's debt crisis against the dollar overseas further boosted the rupee sentiment, dealers said.

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.

At 10.30 am IST, rupee was seen trading at 50.30

Meanwhile, the BSE was seen trading at 16587.00 up by 135.53 points or 0.82% and the 50-share NSE was at 5001.60 up by 45.80 points or 0.92%.

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