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 depreciated by 5 paise to 65.06 against the dollar on Monday after renewed demand for the US currency from importers.
The dollar made headway against the euro after Angela Merkel’s attempts to form a new government for Europe’s biggest economy collapsed, plunging Germany into a crisis. A subdued start at domestic stock markets cast its shadow, traders said.
On Friday, the rupee had bounced back in style to end at a one-week high of 65.01 after Moody’s upgraded India’s sovereign credit rating.
Advertisement
The benchmark BSE Sensex fell by 54.59 points, or 0.16 per cent, to 33,288.21 in early session on Monday.
Advertisement
