Millennium Post

Rs sprints by 10p to fresh 1-month high of 64.35 vs $

After a brief pause, the rupee on Monday regained momentum to log a fresh one-month high of 64.35 by rising 10 paise on bouts of dollar unwinding by exporters.
This is the highest closing for the domestic currency since June 14, when it ended at 64.30.
Bearish continuation in the greenback along with heavy unwinding of long dollar positions built up by speculative traders last week ahead of FOMC meet predominantly gave the rupee a boost.
The domestic unit opened firmly higher at 64.34 as compared to last weekend level of 64.45 at the Interbank Foreign Exchange (forex) market.
It largely consolidated in a tight narrow range of 64.3350 and 64.40 most part of the session before ending at 64.35, showing a smart gain of 10 paise, or 0.16 per cent.

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