RTRS: Indian rupee gains on dlr's slide; stocks rise helps
The Indian rupee on Tuesday rose past the 46 per dollar mark lifted by the U.S. currency's slide versus major units and high-yielders, while an early rise in shares also sparked expectations of more capital inflows.
At 10:40 a.m. (0510 GMT) the partially convertible rupee INR=IN was at 45.97/98 per dollar, 0.7 percent stronger than its Friday's close of 46.29/30. The market was closed on Monday for a holiday.
Last Thursday, the rupee rose to 45.80, its best since Sept. 24, 2008.
"The dollar's continuous fall and gains in global indices are playing havoc with the dollar/rupee," said V. Kumar of State Bank of Travancore.
Traders predicted a range of 45.90 to 46.10 for the rupee during the day.
The dollar fell to fresh lows for the year on Tuesday as a cocktail of central bank comments fed into dollar-bearish sentiment, although options-related trade blocked the euro's rise to $1.50.
