Rupee Surge
The Indian rupee’s surge to a two-month high on Thursday signals a broader shift in the global economic landscape, influenced not just by domestic factors but by international dynamics as well.
The rupee firmed up by 19 paise to 67.79 against the dollar today after increased selling of the US currency by exporters and banks.
The dollar slipping from an 11-month peak against other currencies overseas as investors took profits also helped the rupee.
Further, fresh foreign capital inflows took the local currency higher but a lower opening of the domestic equity markets capped the rise, dealers said.
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Yesterday, the rupee had appreciated by 10 paise to close at 67.98 against the greenback on sustained selling of the American currency by exporters and local banks.
The benchmark BSE Sensex fell by 50.91 points, or 0.14 per cent, to 35,381.48 in opening trade.
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