Mumbai
The partially convertible rupee rose to a high of 73.28 per dollar, its strongest since March 5. The Indian rupee strengthened to its highest level in nearly six months on Friday morning, helped by foreign inflows into the equity markets and amid a noticeable absence of any dollar buying by the central bank.
The partially convertible rupee rose to a high of 73.28 per dollar, its strongest since March 5. It was trading at 73.34/35 at 0645 GMT compared to its close of 73.83 on Thursday. (Latest forex rate in UAE today) “It’s difficult to say if Reserve Bank of India (RBI) is totally missing today but clearly they are not defending a level any more. We could see a breach of 73 next week if we close below 73.50,” a senior trader at a private bank said.— Reuters
