<p>The rupee bounced back by 37 paise to close the shortened week at over five-week high of 61.75 against the US dollar following smart rally in local equities amid sustained capital inflows.<br /><br /></p>.<p>Continued dollar selling by exporters and some banks as also weakness in dollar overseas too aided the rupee sentiment, a forex dealer said.<br /><br />At the Interbank Foreign Exchange (Forex) market, the local currency commenced almost stable at 62.11 a dollar from last weekend’s close of 62.12 and immediately touched a low of 62.16.<br /><br />However, it later rebounded on rally in stocks on the back of increased foreign fund inflows to settle the week at a high of 61.75, rise of 0.60 per cent. Last week, it had declined 19 paise or 0.31 per cent.<br /><br />Previously, it had finished at 61.62 on January 20, 2014.<br /><br />Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said, “ The tussle between oil importers and foreign investors forced rupee to trade in a tight range.”</p>
<p>The rupee bounced back by 37 paise to close the shortened week at over five-week high of 61.75 against the US dollar following smart rally in local equities amid sustained capital inflows.<br /><br /></p>.<p>Continued dollar selling by exporters and some banks as also weakness in dollar overseas too aided the rupee sentiment, a forex dealer said.<br /><br />At the Interbank Foreign Exchange (Forex) market, the local currency commenced almost stable at 62.11 a dollar from last weekend’s close of 62.12 and immediately touched a low of 62.16.<br /><br />However, it later rebounded on rally in stocks on the back of increased foreign fund inflows to settle the week at a high of 61.75, rise of 0.60 per cent. Last week, it had declined 19 paise or 0.31 per cent.<br /><br />Previously, it had finished at 61.62 on January 20, 2014.<br /><br />Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said, “ The tussle between oil importers and foreign investors forced rupee to trade in a tight range.”</p>