Rupee scales past 61 on strong BJP momentum in elections

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, December 9, 2013, 9:51 [IST]

The rupee also saw sentiments perking in early trade with strong showing by the BJP in the state elections fuelling a rally in the currency.

The rupee was last trading at 61.10, after having touched 60.90 against the dollar in early trade.

There has been no fundamental change for the currency, except the fact that hopes of Narendra Madi as the Prime Minister fuelled a selling of the US dollar in trade today.

It's likely that the rupee will remain rangebound and would now take cues from the Fed meeting slated for December 17 and December 18.

Meanwhile, markets rallied across the board with the Sensex and the Nifty hitting a new lifetime high. Check currency rates here

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