MCX-SX October rupee futures end sharply higher

MUMBAI: The MCX-SX October Rupee futures ended sharply higher at 47.62 today on selling of the US currency by corporates and exporters as well as weak dollar overseas.

The MCX-SX October rupee futures were trading at 47.62 in late afternoon. The BSE Sensex closed at 16,867, 269 points down from its previous close.

Sustained portfolio inflows amid sluggish local stocks too helped the rupee rise.

The Indian rupee climbed to rose to its two-months highs today, on dollar's weakness against major currencies and on optimism of rising capital flows into the local equity markets.

The dollar faltered on the outlook of low US interest rates due to a weaker-than-expected US jobs data and after a G-7 ministers meeting at the weekend bought no surprises, a press release said here today.

Active MCX-SX INR Oct'09 futures closed at 47.62. Immediate supports are around 47.30/40 followed by 47.10/20.

Immediate resistance falls around 47.80/90 followed by 48.10/20 levels.

The MCX-SX INR Oct'09 Rupee futures registered an open interest of 3,42,012 for the session. It registered a decrease in volume by 7.69 per cent over its earlier session.

MCX-SX Nov'09 Rupee futures closed towards 47.7250.