Indian Rupee At Near 2-month High Against U.S. Dollar
September 13 2012 - 11:52PM
RTTF2
The Indian rupee opened sharply higher against the U.S. dollar
on Friday on firm global cues after U.S. Federal Reserve announced
plans to buy mortgage-backed securities to boost the lagging
economy.
Indian government's decision to raise the diesel price by a
steep Rs.5 per liter and limiting supply of subsidized liquefied
petroleum gas (LPG) cylinders to 6 per household in a year also
improved sentiment.
The rupee advanced to 54.78 per dollar, its strongest level
since July 20 and the next resistance level for the rupee is seen
at 54.00. The pair closed yesterday's deals at 55.4255.
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