Rupee opened with a rally of 23 paise to Rs.49.04 per dollar against the previous close of Rs.49.27 per dollar on the interbank foreign exchange trade on the back of rigid sentiment in the equity market. Later on, Rupee eased gains and was moving in a tight range against dollar.
At 11:33 hrs, Rupee was seen at Rs.49.25 with a gain of 1 paise in the overseas market. Persistent foreign fund inflows in the capital market had helped rupee to remain on the bullish trend in 2012. So far in this year, Equity market had rallied more than 11.5% due to sustained buying by foreign institutional investors.
During the early trade, the gauge of six currencies price movement tracking dollar index had dipped after euro demand escalated in the foreign currency exchange market.
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