Rupee appreciates to 51.39 per dollar

The partially convertible Indian rupee appreciated by 22 paise to Rs 51.39 per dollar on Interbank Foreign Exchange on Friday with the rise in local equities and increased global risk appetite.

The rupee sentiment was boosted by weaker dollar and positive opening in domestic stock market. Rupee generally follow the footsteps of Euro, if euro is rising against the dollar, same trend can be visible in the Indian currency as well.

The Indian rupee gained confidence after euro and other currencies posted gains against US dollar.

The Indian rupee opened at 51.52 per dollar versus 51.60 yesterday. At 11.10 am IST, rupee was seen trading at 51.43.

The domestic currency is expected to move in the range between Rs 51.20 to Rs 51.70 per dollar.

Meanwhile, the BSE was seen trading at 16073.89 up by 36.38 points or 0.23%. The 50-share NSE was at 4842.30 up by 11.05 points 0.23%.

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