The Indian rupee rose on Thursday as an extended share market rally and strength in regional currencies raised hopes that rising risk appetite among investors would lead to sustained fund inflows. The partially convertible rupee ended at 50.59/61 per dollar, off a high of 50.46 but up 0.3 percent from a previous close of 50.74/75.
Markets will be shut on Friday for a holiday. The rupee rose marginally over the holiday-shortened week, after gaining 1.7 percent in the previous week, and is now 3.2 percent above its record low of 52.2 touched earlier in March. "There was good interest seen both ways. Foreign institutional investors and exporters were selling dollars while month-end demand kept the rise in check," a senior dealer with a foreign bank said.
Comments
Comments are closed.