Rupee gains further to end at Rs 39.88 per dollar

Rupee today hit a fresh 9-year high against the U.S.dollar. Rupee ended higher at Rs 39.88 per USD against its previous close of Rs 40.20 yesterday. Rupee appreciation was aided by the consistent dollar inflows into the Indian stock markets by the Foreign Funds and the lack of apetite from the Indian Financial institutions to buy the dollars.