Friday, June 16 2006 14:01 Hrs (IST) - World Time -

Mumbai: The rupee today (June 16, 2006) resumed trading on a firm ground against the US currency, buoyed by a strong rally in equity markets but expected to remain range-bound in the absence of any worthwhile development.

The rupee is expected to remain in a range of 45.90-94 during the day with the stock markets bullish fervour still to reach the Interbank Foreign Exchange (forex) market.

In somewhat quiet trade at the forex market here, the Indian unit opened firm at Rs 45.92/93 per dollar and later showed steady trend moving around Rs 45.9150/9250 level in the later morning deals.

The rupee began firm this morning due to dollar's weakness in the international markets but lacked a trigger indicating range-bound movements, a leading forex dealer said.

The market witnessed a lacklustre activity as traders remained sidelined, he added.

The stock markets this morning jumped by another 442 points on sustained purchases by institutional investors.