![]() ![]() ![]() In the offshore non-deliverable forward PNDF, the one-month contract was at 61.46, while the three-month was at 62.32. Gains in other Asian currencies further aided the rupee. Traders said good dollar demand from importers including oil companies was seen at stronger rupee levels, limiting any further gains. The unit rose as high as 60.84 at open, its strongest since Aug. It is a combination of the Devanagari letter (ra) and the Latin capital letter R without its vertical bar (). The rupee closed at 61.13/14 per dollar compared with 61.41/42 on Friday. Rupee symbol ( )or INR sign also known as Indian Rupee official symbol, is the denoting symbol which represent the Indian currency and it was designed by D. I am skeptical about selling dollars here but going by the force of the market we can sell dollars for the very near-term,” he added. “The market is ignoring the potential outflows for Iran oil and strong US data and a potential Fed taper on Dec. “The market is in euphoria over the BJP’s victory,” said Vikas Babu Chittiprolu, a senior foreign exchange dealer with state-run Andhra Bank. Other lingering uncertainties include the volatility in oil prices, a big factor in India given the country imports most of its crude needs. The tricolour The symbol has two horizontal lines with equal negative white space between them. The Reserve Bank of India could also raise interest rates for a third time this year next week, delivering a blow to shares. The Rupee symbol preserves this feature of the Indian script. Still, traders urged caution given the continued prospect of the US Federal Reserve soon tapering its monetary stimulus. ![]() The results were seen bolstering chances of the Hindu nationalist Bharatiya Janata Party (BJP) and its prime ministerial candidate Narendra Modi in general elections due by May, and were widely seen as a blow to the ruling Congress Party.Ĭontinued gains in share markets could further lure foreign investors, with overseas net inflows into stocks already past $18 billion so far this year. MUMBAI: The Indian rupee rose to a four-month high, boosted by record-high stock markets after the main opposition party, widely seen by investors as being more business friendly, swept three out of five key state elections held since last month. ![]()
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