Rupee marginally rallies against dollar
Mumbai: The rupee staged a brief rally against the US currency, as the dollar fell overseas. In early trade at the Interbank Foreign Exchange (forex) market, the rupee quoted at Rs45.06/07 per dollar, slightly higher from Thursday's close of Rs45.0850/0950 per dollar, following distinctly firm start at Rs45.01/03 per dollar.

The dollar fell to lows against major currencies like the Euro, British Sterling and the Japanese Yen. Foreign Institutional Investors (FIIs) injected $71.8 million into equity markets on May 10 after pumping in a whopping $102.4 million on May 9.

FIIs have poured in a massive $844 million in the current month so far.
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RBI: Large currency and interest rate movements to impact economy
Mumbai: The Reserve Bank of India governor Yana Venugopal Reddy said any large adjustments in major currencies and interest rates overseas would significantly impact India's economy.

In a speech to the United Nations on Thursday, Reddy said India had a large stake in the process of unwinding global imbalances and was willing to play its part in ensuring a successful outcome from "current initiatives".
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