Rupee ends stronger

The rupee on Monday ended stronger at 39.30/31 a dollar on strong capital inflows into equity market amid dollar buying by state-owned banks at the behest of the central bank.

In restricted activity at the Interbank Foreign Exchange market, the local currency was trapped in a small range of 39.29 and 39.37 after resuming steady at 39.34/36 a dollar from Friday8217;s close of 39.35/36 a dollar. The Reserve Bank of India was believed to have intervened to cap the rupee8217;s surge when it touched 39.29 level on the back of a sharp rally in stock market, forex dealers said.