Rupee rises on strong equity markets

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 Rupee rises on strong equity markets
The rupee rose once again in early trade today, gaining 17 paise to trade at 55.35 to the dollar. Dealers say that foreign portfolio flows continue to be strong, which has propelled the rupee.

Also, beginning of the month sees lesser demand for dollars from oil importers. The RBI has not been intervening in the market, as the rupee continues to remain steady.

The rupee is expected to continue to track equity markets and may gain on strong gain in the stock markets.

Read more about: currency
Story first published: Tuesday, August 7, 2012, 10:03 [IST]
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