Mumbai, May 16: The rupee reinforced to 58.61 against a dollar Fri, the strongest position in over ten months, on vast foreign capital influx in equities markets, as early vote counts showed landslide ending for Narendra Modi-led Bharatiya Janata Party (BJP) within the general elections.
The part convertible rupee reinforced by sixty eight paise to 58.61 against a dollar in early trade at the Interbank exchange Markets here.
The rupee gained by thirty-nine paise to shut at 59.29 against the dollar Th.
Huge influx of foreign cash in equities markets and sale of american currency by banks and exporters reinforced the Indian currency position.
The Indian currency touched a high of 58.61 and low of 59.35 against a dollar within the intra-day. The rupee was quoted at 58.75 against a dollar at 11.15 a.m. Indian standard time (IST).
The Indian stock market’s benchmark Sensex rallied by 1,400 points to soar past 25,000 points mark for the primary time within the intra-day as early vote counts showed Narendra Modi is about to become next prime minister.
The BJP-led National Democratic Alliance (NDA) is about for an absolute majority within the Lok Sabha, whereas the ruling Congress is headed for its worst ever performance, early vote counts showed.
