Rupee Closes at Rs 39.31 against Dollar

Rupee today closed at new 9-1/2 year high of Rs 39.31 against the US Dollar, dearer by 13 paise from previous close of Rs 39.44 on consistent inflows into equity markets.

There was no support for the Dollar in the Indian markets with no banks and Oil Companies coming to rescue in Dollar purchases.

This was lowest since February 26,1998 when Rupee closed at Rs 39.30 against US Dollar, Forex Traders are extremely bullish and feel that Rupee could touch Rs 39 mark soon.