Business & Economy
Rupee spurts to 7-month high
What is India News Service,
Tuesday, 30 November 2004, 1700 hrs IST
Spurting by 23 paise, the rupee on Tuesday scaled a 7-month closing peak of Rs 44.80/82 per dollar, propelled by robust bunched up weekend dollar supplies from trade and foreign portfolio investment inflows on the back of a sliding dollar against major global rivals.
In active trade at the interbank foreign exchange (forex) market, the rupee opened on a firm note at Rs 44.9950/45.0050 per dollar and rapidly climbed past the 44.90/dollar mark in afternoon trade.
Towards the closing hour, dollar sellers dominated in the absence of any buying support, which accelerated the rupee's rise to record peaks of 44.80/82-dollars.
Inflows from overseas funds and distinct weakness of the dollar overseas spurred the sharp upward swing, dealers said.
Pact for work opportunities for all:
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Brainstorming with airport bidders soon:
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Fenesta Building aims at Rs 100 cr business:
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Hyderabad.
IOC’s Lanka unit roars in IPO run:
The initial public offering (IPO) of Indian Oil Corporation’s (IOC) Sri Lankan arm got off to a grand
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Aviation pact with EU to be extended:
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IOTL buys stake in Stewarts & Lloyds:
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MindTree centre in Hyderabad:
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