Indian Rupee Rises To 1-week High Against U.S. Dollar
January 31 2016 - 8:05PM
RTTF2
The Indian rupee strengthened against the U.S. dollar in the
Asian session on Monday.
Data from Markit Economics showed that India's manufacturing
sector expanded at the fastest pace in four months in January, as
output and new orders rebounded from December's flood-related
contractions. The Nikkei Manufacturing Purchasing Managers' Index,
or PMI, rose to 51.1 in January from 49.1 in December.
Against the greenback, the rupee rose to a 1-week high of
67.5900 from an early low of 67.9000. At Friday's close, the rupee
was trading at 67.8500 against the greenback.
If the rupee extends its uptrend, it is likely to find
resistance around the 67.00 area.
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