The Rupee surged to a Nine-year high closing at 39.88/89 against the Dollar

posted by   feby (299)   13 months ago (www.thehindu.com)

The rupee surged to a nine-year high closing at 39.88/89 against the dollar, a level that has not been seen since May 1998. Spurred by strong Foreign Institutional Investor dollar inflows in the stock market, the rupee opened at 40.06/08 and ended the day at 39.88/89, up by 30 paise from the previous close of Rs. 40.20.

Given the kind of bullishness in the domestic stock market t