Re scales 50p to 11-month high of 58.79 per $
18 May 2014 4:42 AM IST
The rupee resumed strong at 59.00 a dollar at the Interbank Foreign Exchange (Forex) market from previous close of 59.29. Later, it moved in a range of 58.62 and 59.11 before concluding at 58.79, showing a rise of 50 paise or 0.84 per cent. Previously, it had settled at 58.70 on 19 June, 2013.
In straight three sessions, rupee has flared up 126 paise or 2.10 per cent. ‘The BJP won a clear majority in general elections leading to optimism in Indian markets,’ said Suresh Nair, Director, Admisi Forex India Pvt Ltd.
Pramit Brahmbhatt, Veracity Group CEO said,’Rupee posted its third weekly gain in a row. The trading range for the Spot USD/INR pair is expected to be within 58.50 to 59.50.'
In straight three sessions, rupee has flared up 126 paise or 2.10 per cent. ‘The BJP won a clear majority in general elections leading to optimism in Indian markets,’ said Suresh Nair, Director, Admisi Forex India Pvt Ltd.
Pramit Brahmbhatt, Veracity Group CEO said,’Rupee posted its third weekly gain in a row. The trading range for the Spot USD/INR pair is expected to be within 58.50 to 59.50.'
Next Story
