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MUMBAI, Jan 5: The rupee rallied to a three-month closing high on Thursday, lifted by strong foreign fund inflows and the dollar’s broad losses against other Asian currencies.
The rupee ended at 44.70/71 per dollar, off a 44.62 peak and 0.18 per cent stronger than Wednesday’s 44.78/79 close.
There was a leading state-run bank that started buying (dollars) around the 44.67 level, possibly on behalf of oil importers, and that in turn triggered some more buying by others including some foreign banks, a dealer at a state-run bank said.—Reuters
