MUMBAI: The rupee was firm in afternoon trade on Thursday as expectations of robust dollar inflows were fuelled by the surge in domestic equities and strong foreign investor interest at debt limit auction on Wednesday. * Traders said the coordinated liquidity action by the major central banks late evening Wednesday had also given a fillip to risk appetite globally and helped rupee's gains. But warned that profit taking at current levels could impede further rise. * At 3:06 p.m., the partially convertible rupee was at 51.59/60 per dollar, 1.2 percent stronger than its 52.20/21 previous close. It had touched 51.50 in early trades, a level last seen Nov. 21. * World stocks started the final month of the year on a positive note on Thursday as coordinated liquidity action by the major central banks raised hopes policymakers may take more drastic action to stem the euro zone debt crisis. * The euro steadied on Thursday, pulling back from highs hit the previous day after joint action by major central banks to ease dollar funding strains buoyed riskier assets, but still left the euro zone debt crisis unresolved. * The U.S. Federal Reserve, the European Central Bank and the central banks of Canada, Britain, Japan and Switzerland said on Wednesday they would lower the cost of existing dollar swap lines by 50 basis points from Dec. 5, and arrange bilateral swaps to provide liquidity for other currencies.

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