The rupee on Thursday rose by 40 paise to touch a one-month high of 54.14 against the US dollar on hopes of strong fund flows, after BSP chief Mayawati decided to lend her party’s support to government on FDI issue in the Rajya Sabha.
Forex dealers said firm local equities, signs of consistent capital inflows and sustained dollar selling by exporters also boosted the rupee sentiment.
The rupee swung between 54.04 and 54.58 during the day at the Interbank Foreign Exchange (Forex) market.
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