The rupee today positively reacted to India’s jump on Ease of Doing Business ranking by rising 24 paise to 64.51 against the dollar. The World Bank’s list was released yesterday.

According to forex dealers, banks and exporters liquidated their dollar bets and domestic stocks soared to new highs, which gave the rupee a leg-up. However, the US currency’s strength against other units had a sobering effect on the rupee.

The domestic unit opened strong at 64.69 against the previous close of 64.75 at the Interbank Foreign Exchange market today. It hovered in a range of 64.69 and 64.51 before quoting at 64.62, up 13 paise at 4.40 pm local time.

The BSE Sensex settled at a new closing peak of 33,600.27, up 387.14 points, or 1.17 per cent.

(This article was published on November 1, 2017)
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