Strong capital inflows and firming trend in equity mkt after govt unleashed second wave of reforms supported rupee
The rupee today gained 33 paise to nearly six-month high of 51.41 against the dollar in early trade on strong capital inflows and a firming trend in the equity market after the government unleashed second wave of reforms yesterday.
The BSE benchmark Sensex rose for the fifth day in a row to fresh 15-month high of 19,086.11 in early trade today after the government yesterday decided to open the pension sector to foreign investment and raising FDI cap in insurance to 49% from 26%.
The rupee had gained 42 paise yesterday to close at over 5-1/2-month high of 51.74 against the dollar.
The rupee fell by 19 paise to 54.17 against the American currency in the late morning trade on month-end dollar demand from importers despite weak ...