Saturday, 29 March 2014

1$ running at 59.87..Hope this continues.

 Oh Yes,
After 8 long months Dollar reduced continuing its rising streak, the rupee on Friday strengthened to below 60 level at 59.90 for the first time since July 2013 against dollar in late afternoon trade on sustained foreign fund flows. 

Dealers said sustained selling of the American currency by banks and exporters and ongoing bull-run on the domestic equity markets also buoyed the rupee sentiments. 


The Indian currency resumed higher at 60.18 per dollar as against the last closing level of 60.31 at the Interbank Foreign Exchange (Forex) Market and firmed up further to break the crucial 60 level to trade at 59.90 in late afternoon trade, a level last seen in July 2013. 

This morning it again came down below 60 and currently running at around 59.87


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