Rupee at 2-1/2 month high; breaks 54-level against US dollar
Quotes

Rupee at 2-1/2 month high; breaks 54-level against US dollar

Last Updated: Friday, January 18, 2013, 12:00
 
 Comment 0
 
Rupee at 2-1/2 month high; breaks 54-level against US dollar
Mumbai: After remaining over the 54 level mark for almost two-and-half months, the rupee on Friday gained by 41 paise quoting 53.98 against the American currency in early trade.

The rupees surge was supported by sustained selling of dollars by banks and exporters amid persistent capital inflows from foreign funds.

Weakness of dollar in the overseas market also boosted the rupee sentiment, a forex dealer said.

The Indian rupee resumed higher at 54.09 as against the last closing level of 54.39 per dollar at the Interbank Foreign Exchange (Forex) Market.

It moved up further to an over two-and-half month high of 53.86, before quoting 53.98 per dollar.

Banks and exporters preferred to reduce their dollar position in view of sustained capital flows from foreign funds into equity market.

Meanwhile, the Indian benchmark BSE-30 share index, Sensex, rose by 123 points or 0.61 percent to 20,086.59.

In New York market, the US dollar slipped yesterday as plentiful demand from investors at a Spanish debt auction indicated worries about the eurozone had eased.

PTI



First Published: Friday, January 18, 2013, 10:18


Comments


comments powered by Disqus
Hyundai 4S Fluidic Verna
Hyundai 4S Fluidic Verna
Top 5 anticipated luxury cars of 2015
Top 5 anticipated luxury cars of 2015
Top 5 anticipated smartphones of 2015
Top 5 anticipated smartphones of 2015
World Economic Forum 2015
World Economic Forum 2015
G20 Summit 2014
G20 Summit 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved