Rupee gains against the dollar

The rupee continued to gain against the dollar moving to Rs 57.05, against Wednesday's close of 57.12 against the dollar.

Dealers says that the Reserve Bank of India reportedly sold dollars on Wednesday to prop up the rupee. Equities markets too have strengthened over the last few days, helping improve sentiments for the rupee.

Markets including the forex and the equity markets have been witnessing improved sentiments on the hopes that Prime Minister Manmohan Singh who has assumed charge as the Finance Minister, would initiate news measures to revive the faltering economy.

This has perked sentiments in both the equity and the forex markets.

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