Rupee 2 year high, 63.65 against US Dollar
Rupee 2 year high, 63.65 against US Dollar. 5 paise strengthened Rupee hits a two year high. Rupee at a record making appreciation of 5 paise, trades at a fresh two-year high of 63.65 against the dollar.
The hopes of more capital inflow and increased selling of the American currency by banks and exporters led Rupee to strengthen.
The other currencies were stronger than dollar, adding value to rupee, dealers said. The six-member Monetary Policy Committee headed by RBI governor Urjit Patel seems to be the major cause. The outcomes keenly awaited by all stakeholders weren’t as expected as the Reserve Bank of India lowered the repo rates by 0.25 per cent.
Yesterday closing, rupee had surged 37 paise, giving its best single day show this year ending at a fresh two year high of 63.70.
The benchmark BSE Sensex dropped by 78.64 points, or 0.24 per cent, to 32,398.10 in early session today.
-PTC News
