Indian Rupee Augments to 61.03 vs. Greenback during Morning Deals

March 07 04:16 2014

dollar newNew Delhi, Friday, March 7 – The currency of India strengthened on March 7 by 8 paise to deal at more or less three-month peak of 61.03 in opposition to the Amercian currency during the morning hours’ deal at the Interbank Foreign Exchange, widening its augments for the fourth consecutive day.

In addition, an elevated start in the domestic stock market, where the BSE 30 went up to touch fresh all time peak of 21,710 on solid Foreign Institutional Investors (FII) inflows, too shored up the domestic currency, more than a few forex traders mentioned.

Adding more to the point, they cited that augmented offloading of the greenback by banks and exporters too improved sentiment of the rupee.