Despite a steady flow of the Indian Rupee and satisfactory gains in the rates of the euro and stocks of Europe, dollar managed to be at the top with sudden rise in its demand from the oil companies.

The Indian rupee was marked at 44.70/71 per dollar, stronger than the previous close of 44.86/87. Euro was quiet high in comparison to dollars for consecutive three weeks. On the increase in the Euro rates, the President of European Central Bank alarmed the investors to be alert with the inflation and asked them to support the debt problem of Greece. The euro was at $1.4487 against $1.4438 at end of local forex trade on Wednesday.

On Thursday, Indian Rupee had again gained a hike with a flow of euro overseas as Greece moved closer to securing international aid. Rupee opened higher by almost 13p at Rs. 44.74 per dollar and extended gains after a decent start to the domestic equities. India has increased its benchmark rate by 275 basis points in the past year, more than Brazil, China and Russia.

As per Securities and Exchange Board of India, the international investors had held a debt of Indian $3.4 billion thereby increasing the holdings to $21.1 billion on June 27.