Wednesday July 23, 01:32 PM
Rupee rises on stocks rally, vote win |
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MUMBAI (Reuters) - The rupee extended gains in afternoon trade on Wednesday, helped by a rally in local shares after the government won a confidence vote in parliament, with lower oil prices also boosting sentiment.
* At 1:10 p.m. the partially convertible rupee was at 42.25/26 per dollar, off a high of 42.18 and 1.1 percent stronger than Tuesday's close of 42.73/74.
* Prime Minister Manmohan Singh's government won a vote of confidence in parliament on Tuesday, ensuring the survival of the ruling coalition and a civilian nuclear deal with the United States.
* Oil, India's biggest import, was trading below $127 a barrel.
* India's main share index rose more than 5 percent.
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