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This is an archive article published on September 21, 2010

Rupee spikes to 45.56 against dollar

The Indian rupee strengthened to its strongest level in four months on Tuesday.

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The Indian rupee strengthened to its strongest level in four months on Tuesday boosted by robust foreign fund investments in local shares.

The main stock index climbed above 20,000 points in early trade for the first time since January 2008.

At 9:04 a.m.,the partially convertible rupee was at 45.56/57 per dollar,after hitting 45.55,its highest since May 18 and above its previous close of 45.70/71 on Monday.

Foreigners have moved nearly 3 billion into Indian equities so far in September,and the rupee had gained 1.4 per cent last week.

 

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