Mumbai : The rupee ruled steady at 39.41/42 against the US currency during morning trade amid fresh month-end dollar demand from oil refiners and firm equity market. The local unit drew support from strong trend in some Asian markets including India but remained under pressure because of anticipation of increased dollar demand at the year-end.
In quiet trade at the Interbank Foreign Exchange (forex) market, the Indian unit resumed better at 30.30/41 a dollar from Friday''s close of 39.4250/4350 a dollar but later traded at 39.41/42 in late morning deals. The benchmark Sensex was up 197 points in late morning trade. Singapore and Taiwan indices too were quoted smartly higher in early trade. Oil refiners'' dollar purchases to meet their month-end import payments weighed on the rupee sentiment, forex dealers said.
In quiet trade at the Interbank Foreign Exchange (forex) market, the Indian unit resumed better at 30.30/41 a dollar from Friday''s close of 39.4250/4350 a dollar but later traded at 39.41/42 in late morning deals. The benchmark Sensex was up 197 points in late morning trade. Singapore and Taiwan indices too were quoted smartly higher in early trade. Oil refiners'' dollar purchases to meet their month-end import payments weighed on the rupee sentiment, forex dealers said.
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