Rupee is trading at 59.89 per dollar
Sensex and Nifty is trading at 26,154.83 and 7,948.90 respectively (Photo: PTI)
Mumbai: Reserve Bank of India Governor, Raghuram Rajan said, "The rupee at 55 to the dollar would be too strong, the Mint newspaper reported on Thursday, a day after the rupee touched an eight-month high."
"And today I would say that if we were at 55 (against the dollar), it would be too strong." highlighted Rajan. On Wednesday, Rajan had said the rupee strengthening to 45 or 50 per dollar could hit exports, in an interview to CNBC-TV18, and added saying the RBI was fine with a certain amount of leeway in the currency.
The Indian rupee has been supported by a powerful rally in domestic equities, which touched a record high for an eighth straight session on Wednesday on the back of strong foreign inflows.
( Source : reuters )
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