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Rupee surges to 3-month high
MUMBAI:
Breaching the crucial 43.50 a dollar barrier, the rupee on Wednesday surged to a three month closing high of 43.48/49, driven up by strong trade and possible portfolio investment inflows amid renewed dollar weakness overseas following the quarter percentage point hike in key U.S. interest rates.
In upbeat mood at the interbank foreign exchange market, the rupee gained ten paise from yesterday's finish of 43.5825/5900 after opening on a firm footing at 43.5350/5450 in line with the dollar's fall overseas, mainly against the euro. PTI
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