Rupee appreciates to 49.03 per dollar

Business

oi-Sneha

By Sneha B K

Published: Friday, February 24, 2012, 12:32 [IST]

The partially convertible Indian rupee rose 16 paise to Rs 49.03 on Friday against dollar during morning sessions on the Interbank Foreign Exchange due to capital inflows.

Rupee sentiment was further boosted by increased risk appetite globally and strong German economic and U.S. labour market data.

At 12.20 pm IST rupee was seen trading at 49.06 up by Rs 0.13.

However, negative trend seen in domestic market constrained the further rise in rupee.

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.

Meanwhile, the BSE was seen trading lower at 17,955.91 down by 122.59 points or 0.68% and the 50-share NSE was at 5,442.70 down by 40.60 points 0.74%.

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