Rupee edges up in thin deals

MUMBAI, JUNE 20. The rupee ended mildly higher against the U.S. currency today, extending an earlier four session rally, backed by steady dollar inflows from exporters and foreign funds.

In yet another day of thin and listless trading at the inter-bank foreign exchange market, the rupee closed at 46.9550/9625, another one paisa gain from Tuesday's closing of 46.9650/9700. It has appreciated by around eight paise in five straight sessions, supported by exporter dollar sales and unwinding of long positions by banks.

The rupee opened on a positive note at 46.9625/9700 and traded in a tight 1-1/2 paise range of 46.9550 and 46.9700 in muted business.

``The market was extremely shallow and demand for dollars was negligible. Steady light dollar supplies, primarily from exporters, continued to give the rupee underlying support," a forex dealer said.

- PTI

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