The Indian rupee rose to a three-week high on Friday, posting its first weekly gain in five, helped by dollar selling from state-run banks and tracking gains in regional currencies ahead of a key U.S. jobs growth data later in the day. The 0.7 percent gain in the rupee this week came on the back of large dollar sales by corporate and banks and a recovery in Asian currencies, offsetting a net $1.5 billion in foreign investor selling in debt markets last month that had previously pressured the local unit. The partially convertible rupee closed at 60.16/17 per dollar compared with 60.31/32 on Wednesday, after rising as high as 60.09, a level last seen on April 10.
Today’s Headlines
1) India’s Rupee Has Biggest Weekly Gain in a Month on Dollar Sales.
2) Pound Climbs to 4-Year High on U.K.’s Resurgent Economic Growth.
3) Mexican Peso Posts Longest Rally since November.
4) Brazilian Real Climbs on Speculation Rousseff Support Declining.
5) Dollar Declines versus Major Peers Amid Turmoil in Ukraine.
For detail information please visit: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) India’s Rupee Has Biggest Weekly Gain in a Month on Dollar Sales.
2) Pound Climbs to 4-Year High on U.K.’s Resurgent Economic Growth.
3) Mexican Peso Posts Longest Rally since November.
4) Brazilian Real Climbs on Speculation Rousseff Support Declining.
5) Dollar Declines versus Major Peers Amid Turmoil in Ukraine.
For detail information please visit: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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