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Rupee strengthens further

MUMBAI JULY 17. The rupee strengthened further against the U.S. currency today on the back of consistent dollar supplies from exporters and fairly good inflow in a moderately active trading on the interbank foreign exchange market.

After hovering in a 3-paise range between 48.76 and 48.79, the Indian unit ended at 48.7700/7750 a dollar, marginally up from yesterday's close of 48.80/81.

Forex dealers also attributed the rupee's gain to the dollar's weakness in international markets pointing to a sharp fall in the U.S. currency against other leading currencies on Tuesday on worries about the ongoing turmoil engulfing U.S. stock markets. — PTI

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