Rupee appreciates further in early trading
Mumbai, Feb. 26 (PTI): The rupee today appreciated further to Rs 44.1850/1950 in later morning deals against the US currency on the back of some dollar buying by importers due to higher global crude oil prices amid weak dollar overseas. In active trade at the Interbank Foreign Exchange (FOREX) market, the Indian unit opened sharply higher at Rs 44.14/16 a dollar from last Friday's close of Rs 44.20/21 per dollar on heavy dollar buying by some banks on behalf of their clients, mainly oil refinery companies. Global crude oil prices today touched USD 61.50 a barrel in Asian trade. Later, it was quoted slightly easier on bearish equity markets at Rs 44.1850/1950 in late morning deals, still higher from previous close. The dollar ended lower across the board Friday amid concerns that interest rates will rise in Europe but could remain frozen or even decline in the US.
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