Monday, May 8 2006 12:25 Hrs (IST) - World Time -

Mumbai: The rupee today(May 8, 2006) bounced back with a vengeance against the US currency at the opening session on the Interbank Foreign Exchange (FOREX) market on strong trade inflows.

In moderately active trade, the Indian currency opened sharply higher at Rs 44.84/85 per dollar as against the last weekend's close of Rs 44.93/94 and thereafter, firmed up further on increased inflows and was quoted smartly firm at Rs 44.8225/8300 per dollar. However, the rupee weakened further against the single European unit at Rs 57.07/09 per euro as compared to the previous close of Rs 57.00/02.

Foreign funds inflow into the domestic stock market continued to be heavy which helped the Bombay Stock Exchange (BSE) index to jump over 151 points to touch a historic high of 12,551.07 during early trade.

Meanwhile, world crude oil prices continued to lean down and the New York's main contract, light sweet for Junecontract fell by 32 cetns to $70.51 per barrel during early trading as compared to last Friday's level of $70.19, dealers said.