Rupee rises against dollar

The rupee on Friday breached the 44-dollar barrier and ended sharply higher at 43.87/88 per dollar, driven up by sustained heavy FII inflows into the buoyant stock market amid a sliding dollar overseas. The rupee recovered by another 15 paise from Thursday8217;s closing levels of 44.02/04 per dollar following a strong start at 43.96/98 per dollar due to the US currency8217;s tumble against major global rivals, mainly the euro, dealers said.

Taking Thursday8217;s 12 paise rally, the rupee has recouped 27 paise following its plunge by over 45 paise in the first three sessions of the week to near nine-month lows of 44.14/15 on Wednesday.