Rupee Joins Bandwagon of Forex Highs
India’s Rupee joined the bandwagon of currency increases against the Dollar the first week of December, together with most Asian currencies whose countries experience high remittance inflows during the Christmas Holidays.
According to Hindu.com, "the Rupee rallied smartly against the US currency early today (Dec. 9) on fresh exporter dollar sales amid a retreating dollar overseas in moderately active trade at the Interbank Foreign Exchange market."
"The domestic unit was quoted at Rs 46.1750/1850 per dollar in late morning deals, sharply higher from Thursday’s close of Rs 46.25/26 per dollar following a distinctly firm start at Rs 46.14/16 per dollar," the website added.
The Rupee’s forex high was a result of the retreating dollar overseas and partly by steady FII inflows. During the said week, the Rupee was quoted at Rs 54.51/53 to the Euro Pound, Rs 80.84/86 to the Pound Sterling, and Rs 38.29/31 to the Japanese Yen.
(Source: Rupee Rallies Smartly Against the USD In Early Trade, Hindu.Com)
According to Hindu.com, "the Rupee rallied smartly against the US currency early today (Dec. 9) on fresh exporter dollar sales amid a retreating dollar overseas in moderately active trade at the Interbank Foreign Exchange market."
"The domestic unit was quoted at Rs 46.1750/1850 per dollar in late morning deals, sharply higher from Thursday’s close of Rs 46.25/26 per dollar following a distinctly firm start at Rs 46.14/16 per dollar," the website added.
The Rupee’s forex high was a result of the retreating dollar overseas and partly by steady FII inflows. During the said week, the Rupee was quoted at Rs 54.51/53 to the Euro Pound, Rs 80.84/86 to the Pound Sterling, and Rs 38.29/31 to the Japanese Yen.
(Source: Rupee Rallies Smartly Against the USD In Early Trade, Hindu.Com)
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