Rupee hits fresh 11 month high; RBI watched

Tags: Rupee, News
The rupee hit a fresh 11-month high of 58.3650 per dollar on Friday, tracking stronger domestic shares and following gains in Asian markets on improved risk appetite globally.

The rupee was at 58.3825/4000 at 0349 GMT, after gaining to 58.3650, a level last seen on June 18. It had closed at 58.4675/4775 on Thursday.

However, traders said they expect the Reserve Bank of India to buy dollars and stem the rupee's rise.

EDITORIAL OF THE DAY

  • It is for the market, not the government to decide the fares of private air carriers

    In a country where substantial lip service is paid to the glories of a free economy and laissez faire, there is enough evidence to suggest that in rea

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

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture