Tuesday, 28 March 2017

Rupee Storms To Fresh 17 Month High; Jumps 37 Paise

This is the highest closing for the domestic unit since October 28, 2015 when it had closed at 64.93.

Expectations of more reforms that will boost long-term economic growth reinforced investor optimism including the much awaited labour, agricultural and banking reforms.

Robust capital inflows and weakness of the dollar against other currencies overseas predominantly boosted the rupee value against the dollar, a forex dealer said.

Foreign investors have pumped in about USD 6 billion in capital markets so far this month, buoyed by expectations that BJP's victory in assembly polls is a precursor to more "bold, reformist policies" in India.

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