Rupee rises 38 paise to 90.40 against US dollar

MUMBAI: (Feb 12) The rupee appreciated 38 paise to 90.40 against the US dollar in early trade on Thursday, supported by foreign fund inflows and suspected RBI intervention.

Forex traders said foreign fund inflows, while not massive, provided a psychological anchor. Moreover, the RBI has been quietly ensuring that liquidity remains abundant in the banking system.

At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, then gained momentum and touched 90.40, registering a rise of 38 paise over its previous close.