Rupee gains 16 paise against the dollar at 59.95

Commentary

oi-Sunil

By Sunil Fernandes

Published: Wednesday, April 9, 2014, 9:46 [IST]

The rupee was up 16 paise against the dollar and was last trading at 59.95. The rupee had closed at 60.11 on Monday.

The strength in the rupee was largely in line with strong equity sentiments across the globe. The rupee has gained considerably in the last few months on the back of heavy inflows from foreign institutional investors.

The fast improving current account deficit has also helped push the rupee higher. Last year the rupee hit a low of 68.81 against the dollar in Sept, but, has recovered ever since, following a series of measures from the RBI and the government. Check currency rates here

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