Rupee hits more than 7 month high

Tags: Rupee, News
The rupee strengthened to its highest level in more than seven months on Tuesday, tracking broad global losses in the dollar and as foreign investors continued to buy into a record-setting rally in domestic shares this month.

The U.S. dollar nursed broad losses early on Tuesday, having come under pressure late in New York as investors bought the euro and drove the Australian dollar to its highest this year.

The partially convertible rupee trading at 60.50/51 per dollar at 9:06 a.m., its strongest level since August 12 and higher than its Monday's close of 60.77/78.

Overseas investors bought Indian shares worth 14.65 billion rupees and 10.56 billion rupees worth of index futures on Monday, when shares hit a record high, provisional exchange data showed.

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E-mail ID will not be published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

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

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

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture