Rupee continues to rally, opens 9 paise stronger against US dollar

Rupee began Friday on a strong note against the US dollar, gaining 9 paise to 95.65 as the American currency weakened in overseas markets.The recovery, however, remained constrained by elevated crude oil prices, according to forex traders.At the interbank foreign exchange, rupee started the session at 95.69 before strengthening to 95.65, compared with Thursday's close of 95.74. Rupee had ended Thursday 1 paisa lower after giving up its initial gains.The currency's movement comes as the Reserve Bank of India expects foreign currency inflows of at least $80 billion from measures announced earlier this year to attract dollars into India. RBI Governor Sanjay Malhotra has indicated that around $56.85 billion has already been mobilised, including $52.3 billion through FCNR(B) deposits."Governor Sanjay Malhotra indicated that the central bank expects at least USD 80 billion of foreign currency inflows from the measures announced earlier this year to attract dollars into India.