II:Rupee spurts as stocks rally and Asian peers gain
The BSE Sensex and the NSE Nifty both gained 2.5% in late morning trade, tracking strong gains in other Asian markets after Federal Reserve Chairman Ben S. Bernanke hinted that he may consider another stimulus at next month's policy meeting.
The Indian rupee advanced against the US dollar on Monday, logging its biggest gain in six months, after local stocks spurted and other Asian currencies rose versus the greenback.
At 11:50 am (IST), the rupee was at 45.84 after as high as 45.7725. It had opened at the day's low of 46.06 as against the previous close of 46.1550.
The BSE Sensex and the NSE Nifty both gained 2.5% in late morning trade, tracking strong gains in other Asian markets after Federal Reserve Chairman Ben S. Bernanke hinted that he may consider another stimulus at next month's policy meeting.
The dollar came under some bit of pressure against a basket of major currencies in Asia today amid speculation that the Fed policymakers may offer more stimulus next month in a bid to shore up the flagging US economy.
