Indian Rupee Extends Rise To 6-day High Against U.S. Dollar
March 12 2015 - 08:54AM
RTTF2
The Indian rupee extended rally against the U.S. dollar in later
deals on Thursday, as regional stocks rose, and traders await
industrial output and consumer inflation data due shortly.
The benchmark S&P BSE Sensex gained 271.24 points or 0.95
percent to close at 28,930.41, while the broader CNX Nifty index
closed up 76.05 points or 0.87 percent at 8,776.
The International Monetary Fund raised its forecasts of India's
economic growth, but called for continuing fiscal consolidation and
higher spending by cutting subsidies to resume an eight- or
nine-per cent, or an even higher, growth rate in the coming
years.
The rupee climbed to a 6-day high of 62.45 per greenback,
compared to yesterday's closing value of 62.76. The rupee may seek
resistance around the 62.00 level.
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