Wednesday, September 11, 2013

Rupee rises to near 3-week high at 63.11/dollar

MUMBAI: The rupee rose 73 paise to 63.11 against the US dollar at the Interbank Foreign Exchange market.

The partially convertible rupee was at 63.11, its lowest since August 23, and 63.84/85 previous close.

The rupee rose to near three-week high as dealers cited corporate inflow related dollar selling.

The rupee had settled at 63.84 against the dollar yesterday and was up 140 paise over the previous day\'s close as fears of US military strike on Syria eased, leading to lower global oil prices.

\"Several dealers cite selling by a large private petrochemical company. Some dealers also cite selling related to possible front-running due to inflows towards Mylan Inc\'s $1.6 billion deal to acquire a unit of Strides ArcolabBSE 0.52 % Ltd,\" Reuters report said.

Meanwhile at 02:30 p.m.; the 50-share index was at 5,883.75, down 13 points or 0.22 per cent. It touched a high of 5,913.45 and a low of 5,842.10 in trade today.

The S&P BSE Sensex was at 19,914.75, down 82.34 points or 0.41 per cent. It touched a high of 20,055.53 and a low of 19,777.63 in trade today.
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