The rupee surged to a two and half month high against the dollar, following the government's decision to partially de-regulate the prices of diesel. The rupee was last trading at 53.97, up 41 paise over Thursday's close.
The sharp gains in the rupee is likely to continue, following the government's ongoing efforts to push the reform process. Strong inflows into the Indian equity markets from foreign funds has also been one of the prime reasons for the sharp rally in the rupee.
The government it may be recalled had initiated a slew of reform measures, beginning with a diesel price hike and FDI in multi-brand retail in September. This has led to strong gains in the rupee following the currency hitting a low of 57.30 last year.
Today's two and half month rally is largely on the government's decision to allow oil marketing companies to hike diesel prices in small amount each month.
GoodReturns.in
Notifications
Settings
Clear Notifications
No New Notifications
Notifications
Use the toggle to switch on notifications
Block for 8 hours
Block for 12 hours
Block for 24 hours
Don't block
To start receiving timely alerts, as shown below click on the Green “lock” icon next to the address bar
Click it and Unblock the Notifications
Close X
Close X
To Start receiving timely alerts please follow the below steps:
Click on the Menu icon of the browser, it opens up a list of options.
Click on the “Options ”, it opens up the settings page,
Here click on the “Privacy & Security” options listed on the left hand side of the page.
Scroll down the page to the “Permission” section .
Here click on the “Settings” tab of the Notification option.
A pop up will open with all listed sites, select the option “ALLOW“, for the respective site under the status head to allow the notification.
Once the changes is done, click on the “Save Changes” option to save the changes.
Click it and Unblock the Notifications
Sign in with Google