Rupee could rise to 52 by end-2013
Rupee could rise to 52 per dollar by end of 2013 in a note.
The government winning the vote on foreign direct investment in multibrand retail will continue to help the rupee despite questions on whether the reform will be approved by the upper house and concerns about its implementation.
The rupee today rose by 14 paise to 54.40 against the dollar in early tra
Rupee could rise to 52 per dollar by end of 2013 in a note.
The government winning the vote on foreign direct investment in multibrand retail will continue to help the rupee despite questions on whether the reform will be approved by the upper house and concerns about its implementation.
The rupee today rose by 14 paise to 54.40 against the dollar in early tra
de at the Interbank Foreign Exchange market on continued selling of the US currency by exporters and banks.
Besides, a higher opening in the domestic equity market and strengthening of euro, which hovered at seven-week high against the American currency overseas, supported the rupee.
Meanwhile, the BSE benchmark index Sensex extended yesterday's gains by rising 99.74 points, or 0.51 per cent, to 19,491.60 in early trade today.
The rupee had gained 14 paise to close at 54.54 against the dollar yesterday after the ruling government's victory in Parliament over FDI in multi-brand retail sector amid sustained selling of the US currency.
Besides, a higher opening in the domestic equity market and strengthening of euro, which hovered at seven-week high against the American currency overseas, supported the rupee.
Meanwhile, the BSE benchmark index Sensex extended yesterday's gains by rising 99.74 points, or 0.51 per cent, to 19,491.60 in early trade today.
The rupee had gained 14 paise to close at 54.54 against the dollar yesterday after the ruling government's victory in Parliament over FDI in multi-brand retail sector amid sustained selling of the US currency.
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