Mon, Dec 6 11:11 AM
Mumbai, Dec 6 (PTI) The Indian rupee continued to rule firm and hit three-week high of Rs 44.89 against the US currency, on persistent dollar selling by banks and exporters on the back of fresh rise in equity market. Forex analysts said exporters and some banks preferred to reduce their dollar position in view of sustained capital inflows from foreign funds into stock market.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened strong at 44.95/96 per dollar as against the last weekend''s level of 45.10/11 and shot up further to a 3-week high at 44.89 before quoting at 44.92/93 per dollar at 1030 hours. Besides, the Indian benchmark Sensex shot up by 174 points or 0.87 per cent to 20,141.17 level in the early trade.
Meanwhile, crude oil prices were trading higher in Asian trade today, as crude markets continued their rally after hitting the highest levels in more than two years on Friday, analysts said. New York''s main contract, light sweet crude for January delivery, gained 14 cents to USD 89.33 a barrel after closing at USD 89.19 on Friday, its highest point since October 9, 2008.
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