Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

Indian rupee advances to 7-week high at 61.45 vs dollar

Oct 04 2013, 13:04 IST
Comments 0
Rupee weakened by 20 paise to 61.93 against the dollar. (Reuters) Rupee weakened by 20 paise to 61.93 against the dollar. (Reuters)
SummaryBSE benchmark Sensex rose by 60.89 points, or 0.31 per cent, to 19,962.96.

The Indian rupee advanced by 28 paise to a seven-week high of 61.45 against the dollar in late morning deals on Friday on selling of the US currency by banks and exporters triggered by its weakness overseas.

Good foreign capital inflows into equity market also boosted the rupee value against the dollar, a forex dealer said.

The rupee resumed lower at 61.85 per dollar as against the yesterday's closing level of 61.73 at the Interbank Foreign Exchange (Forex) Market on mild dollar demand from some banks.

However, it recovered immediately to 61.34 before quoting 61.45 per dollar at 1045 hours, on fresh selling by banks and exporters.

It may be recalled that the dollar was quoted at 61.32 on August 16, 2013.

The domestic currency hovered in a range of 61.34 and 61.95 per dollar during the morning deals.

In New York market, the dollar hit an eight-month low against the euro yesterday as investors grew more concerned about the economic effects of a prolonged shutdown and debt-ceiling debate.

Meanwhile, the Indian benchmark BSE-30 share index Sensex moved down by 29.66 points or 0.15 per cent to 19,872.41 at 1125hours, after earlier touching the 20K level.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...