Rupee breaks 54-level vs dollar in late morning session
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
After remaining over the 54 level mark for almost two-and- half months, the rupee today gained by 41 paise quoting 53.98 against the American currency in late morning deals.
The rupees surge was supported by sustained selling of dollars by banks and exporters amid persistent capital inflows from foreign funds.
Weakness of dollar in the overseas market also boosted the rupee sentiment, a forex dealer said.
The Indian rupee resumed higher at 54.09 as against the last closing level of 54.39 per dollar at the Interbank Foreign Exchange (Forex) Market.
It moved up further to an over two-and-half month high of 53.86, before quoting 53.98 per dollar at 1050 hrs.
Banks and exporters preferred to reduce their dollar position in view of sustained capital flows from foreign funds into equity market.
Meanwhile, the Indian benchmark BSE-30 share index, Sensex, rose by 123 points or 0.61 per cent to 20,086.59 at 1100 hrs.
In New York market, the US dollar slipped yesterday as plentiful demand from investors at a Spanish debt auction indicated worries about the euro zone had eased.
- Paddy shortfall blamed for mystery death of procurement officer
- 'Bookie' Vindoo was close to BCCI chief’s son-in-law: cops
- Net widens, police watching three more players, new set of bookies
- Suspected Islamists behead soldier on London street
- Malegaon 2006 case: NIA names four right wing terror suspects
- BJP invokes 'sarcasm, ridicule' against PM