Rupee gains 30 paise to jump to one-year high

The Indian rupee strengthened by 30 paise against the US currency to hit a one-year high of 46.18 a dollar in opening trade on Wednesday on increased dollar selling by exporters.

The Indian rupee strengthened by 30 paise against the US currency to hit a one-year high of 46.18 a dollar in opening trade on Wednesday on increased dollar selling by exporters.

At the Interbank Foreign Exchange (Forex) market, the domestic unit appreciated by 30 paise to quote at 46.18 a dollar, the level not seen after September 26, 2008.

The rupee closed 8 paise down at 46.48/49 in the previous session on Monday. The forex market remained closed yesterday on account of Assembly elections in Maharashtra. Dealers said increased dollar selling by exporters and sustained capital inflows boosted rupee sentiments.

Weakening US dollar, which dipped to 14-month lows against a basket of currencies, also supported the uptrend, they added.

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