Rupee hits 11-month high of 58.3650 per dollar
Indian rupee rose to its highest level against the dollar on Thursday.
Mumbai: The rupee hit a fresh 11-month high of 58.3650 per dollar on Friday, tracking stronger domestic shares and following gains in Asian markets on improved risk appetite globally.
The rupee was at 58.3825/4000, after gaining to 58.3650, a level last seen on June 18. It had closed at 58.4675/4775 on Thursday.
However, traders said they expect the Reserve Bank of India to buy dollars and stem the rupee's rise.
( Source : reuters )
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