Rupee hits new high against dollar

The rupee once again breached the 45 dollar barrier and climbed to a new 5-1/4-month high of 44.97/98 per dollar early on Thursday, driven u...

The rupee once again breached the 45 dollar barrier and climbed to a new 5-1/4-month high of 44.97/98 per dollar early on Thursday, driven up by robust trade and foreign capital investment inflows.

In moderately active trade at the interbank foreign exchange market here this morning, the rupee gained seven paise from yesterday’s close of Rs 45.04/05 per dollar with sentiments upbeat for more gains, dealers said.

A lingering weak dollar against major global currencies also aided the sharp rupee rise, they added.

The rupee opened distinctly firm at Rs 44.98/99 perdollar. Sentiments remained positive for the rupee due to sustained rising foreign fund inflows and export proceeds, bankers said. FDI inflows increased by 67.6 per cent year-on-year to $2.38 billion in the first six months of the current fiscal ended September 30. —PTI

Congress releases second list for Bihar elections, fields 5 candidates

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