Rupee rebounds to fresh 6-week high of 64.55
PTI|
Updated: Nov 04, 2017, 10.35 AM IST
Staging a good recovery, the rupee on Friday ended at a fresh six-week high of 64.55 a dollar, gaining by 6 paise on fresh selling of the American currency and also well-supported by favourable macro indicators.
A spectacular record-breaking rally in local equities along with fresh dollar unwinding by exporters and some foreign banks largely aided the recovery momentum.
This is the highest closing for the home currency since September 20, when it had ended at 64.27. Sluggish dollar sentiment overseas along with robust capital inflows also aided to the rupee.
The rupee resumed higher at 64.57 against Thursday's closing of 64.61 on fresh bouts of dollar selling.
It later confined to a rather narrow range and swung between a high of 64.5250 and a low of 64.6350 due to uneven dollar demand and supply.
A spectacular record-breaking rally in local equities along with fresh dollar unwinding by exporters and some foreign banks largely aided the recovery momentum.
This is the highest closing for the home currency since September 20, when it had ended at 64.27. Sluggish dollar sentiment overseas along with robust capital inflows also aided to the rupee.
The rupee resumed higher at 64.57 against Thursday's closing of 64.61 on fresh bouts of dollar selling.
It later confined to a rather narrow range and swung between a high of 64.5250 and a low of 64.6350 due to uneven dollar demand and supply.
