Rupee hits 11 month high; RBI intervention in focus

Tags: Rupee, News
The rupee rose to its strongest in 11 months against the dollar on expectations of continued robust foreign buying in domestic shares and debt after the Bharatiya Janata Party swept the country's elections.

However, traders expect dollar buying from the central bank to limit broader gains in the rupee.

At 9:04 a.m (0336 GMT), the rupee was trading at 58.49/50 per dollar, after hitting 58.47, its strongest since June 18, 2013. The pair had closed at 58.79/80 on Friday.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture