Wed, Mar 5 01:14 PM

The Indian rupee appreciated further by 10 paise to 40.21/22 against the US currency in morning trade on Wednesday largely due to some dollar sales by exporters and weakness in American currency overseas.

The local currency resumed lower at 40.33/35 a dollar but later surged to 40.21/22 a dollar from its previous close of 40.31/32 a dollar.

The rupee drew support from a mild rally in local stocks while Asian markets were still sluggish in early trade. Dealers said exporters dollar sales at the current levels also aided the rupee sentiment.

Source : http://in.news.yahoo.com/financialexpress/20080305/r_t_fe_bs/tbs-rupee-appreciates-by-10-paise-agains-420aff8.html

Replying to [BHARAT ]:Oh! The rupee is appreciating and depreciating against the dollar like a bar-graph.Well though it is some relief for the Indians that it atleast crossed 40 mark against one dollar.

Reply to  [essar53]: Which one beneficial, appreciation or depriciation?.

KILOIA

Replying to [KILOIA]:Well I would say it is the depreciation of rupee against dollar which is more beneficial.

Reply to  [essar53]:I also think so,.....It increase export.

KILOIA

Replying to [KILOIA]:Yes definetely it is benificial for exporters as they can bag more profit.