960424

Indian rupee

closes up

BOMBAY: The Indian rupee closed at 34.16/18 to a dollar on Wednesday, up from the opening rate of 34.22/24 rupees, dealers said.

The rupee gained on heavy dollar selling triggered by good dollar inflows. Too many bank holidays next week also prompted dollar selling, dealers said.

Banks are closed on Monday and Wednesday.

The Reserve Bank of India (RBI) bought dollars aggressively throughout the day, one dealer said. He said RBI bought at 34.21, 34.19 and later at 34.18 level.-Reuter