The rupee strengthened on Tuesday to its highest level in 1-1/2 months, boosted by foreign fund inflows to equities, though traders remain wary of central bank intervention to prevent a sharp rally in the currency.
The partially convertible rupee was trading at 73.50/51 per dollar at 07.55 GMT, after touching 73.45 earlier in the session — it highest since October 21. It ended the session to settle at 73.68 against the US dollar — a rise of 37 paise.
“The absence of the central bank from the market has helped the rupee break the 73.75 barrier," said a
The partially convertible rupee was trading at 73.50/51 per dollar at 07.55 GMT, after touching 73.45 earlier in the session — it highest since October 21. It ended the session to settle at 73.68 against the US dollar — a rise of 37 paise.
“The absence of the central bank from the market has helped the rupee break the 73.75 barrier," said a