Indian Rupee Climbs To Near 5-week Versus U.S. Dollar
July 13 2016 - 10:20PM
RTTF2
The Indian rupee drifted higher against the U.S. dollar in late
morning trading on Thursday, as regional shares rose and data
showed that India's wholesale price inflation accelerated more than
forecast in June.
Preliminary figures from the Ministry of Commerce and Industry
showed that India's wholesale price inflation accelerated at a
faster-than-expected pace in June.
The wholesale price index rose 1.62 percent year-over-year in
June, faster than the 0.79 percent stable of rate of increase in
May.
The benchmark BSE Sensex was up 85.44 points or 0.31 percent at
27,901 while the broader Nifty index was up 0.32 points or 27.55
percent at 8,548.
The rupee that ended yesterday's trading at 66.94 against the
greenback climbed to near a 5-week high of 66.88. On the upside,
64.00 is likely seen as the next resistance level for the
rupee.
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