Indian Rupee Advances To 4-day High Vs U.S. Dollar As Govt Notifies FDI
21 September 2012 - 3:42PM
RTTF2
The Indian rupee continued gains against the U.S. dollar in late
morning deals on Friday after the government's notification
allowing foreign investment in multi-brand retail, aviation and
broadcast.
Falling oil prices, speculation that price of levy sugar will be
increased and reports that the government is considering easing FDI
norms for a few other sectors, including pharmaceuticals also
helped lift investor sentiment.
The rupee rallied to a 4-day high of 53.8610 against the
greenback with 53.00 seen as the next resistance level. The
greenback-rupee pair closed yesterday's deals at 54.2605.
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