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.

EDITORIAL OF THE DAY

  • Because our politicians elbowed out our teachers on Teachers’ Day

    The Swachch Bharat campaign made the highest leaders sweep. Teachers’ Day is making them teach.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture