Saini Sa'aB
K00l$@!n!
New Delhi: The rupee strengthened has strengthened to a 25-month to against the dollar, closing 30 paise higher at Rs. 44.19 against the dollar.
This means the rupee is now trading at pre-Lehman collapse levels. The rupee last traded at 44.12 on September 8, 2008.
The strengthening of the rupee is largely on account of selling of dollars by banks and exporters in view of sustained capital inflows into the stock markets.
Analysts say the rupee could move to 44 to a dollar levels in next few trading sessions.
The rupee opened higher at 44.37/38 per dollar as against Wednesday's closing level of Rs. 44.49/50 per dollar. Foreign funds continued their buying as they bought net worth Rs. 1,842.44 crore on Wednesday as per the provisional data issued by the stock exchanges.
Net equity inflow in 2010 now stands at a record $20.52 billion, above last year's $17.45 billion, as per data from the Securities & Exchange Board of India (Sebi). The Sebi data includes FII inflow through primary and secondary market route.
In London, the dollar hit a 15-year low against the yen and fell across the board today as it was pummeled on growing speculation that the Federal Reserve may implement more monetary easing as early as next month.
This means the rupee is now trading at pre-Lehman collapse levels. The rupee last traded at 44.12 on September 8, 2008.
The strengthening of the rupee is largely on account of selling of dollars by banks and exporters in view of sustained capital inflows into the stock markets.
Analysts say the rupee could move to 44 to a dollar levels in next few trading sessions.
The rupee opened higher at 44.37/38 per dollar as against Wednesday's closing level of Rs. 44.49/50 per dollar. Foreign funds continued their buying as they bought net worth Rs. 1,842.44 crore on Wednesday as per the provisional data issued by the stock exchanges.
Net equity inflow in 2010 now stands at a record $20.52 billion, above last year's $17.45 billion, as per data from the Securities & Exchange Board of India (Sebi). The Sebi data includes FII inflow through primary and secondary market route.
In London, the dollar hit a 15-year low against the yen and fell across the board today as it was pummeled on growing speculation that the Federal Reserve may implement more monetary easing as early as next month.
