Indian Rupee Climbs To 4-day High Against U.S. Dollar

04:29, 1st September 2014

(RTTNews) - The Indian rupee gained ground against the U.S. dollar in afternoon deals on Monday on sustained capital inflows amid an acceleration in the country's economic growth rate in the second quarter.

India's economy grew faster-than-expected in the three months to June and at the strongest pace in two years, preliminary figures from the Central Statistics Office revealed Friday.

Gross domestic product grew 5.7 percent in the April to June quarter, which exceeded economists' forecast for 5.5 percent expansion. The economy grew 4.6 percent in the previous three months.

The rupee climbed to 60.415 against the greenback, its highest since August 28. On the upside, 60.00 is likely seen as next resistance level for the rupee.

Indian market was closed on Friday due to Ganesh Chaturthi.