ECM:Rupee stays up as dollar weak globally; importer demand caps rise
MUMBAI: The Indian rupee remained strong in afternoon trades on Monday comforted by the U.S. unit's weakness globally and positive local shares.
View the state-owned Power Finance Corp's share offering this week, which aims to raise up to $1 billion, will attract robust dollar inflows also aided the rupee, traders said.
At 2:53 p.m., the partially convertible rupee was at 44.6600/6625 per dollar, compared with 44.785/795 previous close, when it had touched 44.90--a level last seen on March 28.
The index of the dollar against six major currencies was down 0.34 percent at 74.586 points while the euro was at $1.4408. * But dollar demand from domestic oil refiners limited the rupee's gains, traders said.