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Rupee trades at 49.04 against US dollar
Benchmark crude for March delivery was up 4 cents at $96.40 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $1.25 to settle at $96.36 on Thursday.
03 Feb 2012, 11:23 AM IST 
Telenor CEO Jon Fredrik Baksaas
The rupee gained 11 paise or 0.22 per cent to trade at a fresh three-month high of 49.04 against the US dollar at 1112 hours.
Dealers said continued foreign capital inflows in the Indian market and weakening of dollar against the euro in the global markets helped the currency.
The rupee had surged by 12 paise to close at a fresh three-month high of Rs 49.15 against the dollar yesterday. Strong gains in the equity markets and sustained dollar selling by banks and corporates had helped the rupee yesterday.