The Indian currency further strengthen by 20 paise to 65.81 against the US dollar in morning trade on Friday, largely supported slew of proposals unveiled by newly appointed Reserve Bank of India (RBI) Governor, Raghuram Rajan.
The Indian currency further strengthen by 20 paise to 65.81 against the US dollar in morning trade on Friday, largely supported slew of proposals unveiled by newly appointed Reserve Bank of India (RBI) Governor, Raghuram Rajan.
As reported by Business Today, the domestic currency had gained 106 paise to close at 66.01 on Thursday against the dollar after steps taken by Rajan to attract US currency inflows.
To support the weakening rupee, the central bank announced steps such as enhanced limits for exporters to re-book cancelled forward exchange contracts and a special concessional window to swap foreign currency non-resident (FCNR) deposits.
Dealers said a higher opening in domestic equity market and dollar’s weakening against some currencies overseas helped the rupee rise. The BSE Sensex opened 126.10 points higher at 19,105.86 on Friday morning.
