News Column

Indian Rupee Climbs To 8-day High Against US Dollar

August 13, 2014

NEW DELHI (Alliance News) - The Indian rupee gained ground against the US dollar in morning deals on Thursday, as soft retail sales data from the US undermined the latter.

Indian markets also rose, tracking firm Asian cues, as yesterday's US retail sales data spurred hopes that the US Federal Reserve will not raise interest rates anytime soon. Investors eye wholesale inflation figures due out later in the day for further direction.

The benchmark 30-share S&P BSE Sensex is currently up 119.87 points or 0.46% at 26,039, while the broader CNX Nifty index rose 29.65 points or 0.38% at 7,769.

The rupee hit 60.99 against the greenback, its strongest since August 6. At yesterday's close, the pair was worth 61.07. The next possible resistance for the rupee is seen at the 60.00 zone.

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Source: Alliance News

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