Rupee up 21 paise vs dollar as trading volume dips
26 Dec 2011
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The rupee gained 21 paise, rising to Rs52.75 a dollar in low-volume trading today, as banks and exporters sold the greenback amidst a rising trend in equity markets.
Rupee emerged stronger as improved US economic data helped sentiment and some bets on risk perceptions were covered.
Yet, traders fear the rupee could still fall below the 53-a-dollar mark if oil importers club their dollar purchases.
The Indian unit closed 0.4 per cent higher at 52.7250/7350 a dollar against Friday's close of 52.9600/9675 a dollar.
The rupee rise was helped by speculative buying in shares, which sent the BSE sensitive index up 232 points.
News that the Government of India is negotiating a currency swap arrangement with Japan also aided the sentiment.
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