The rupee rose on Monday to touch the highest level in more than two weeks as local shares joined a global rally amid rising hopes that European leaders will announce a comprehensive plan on October 23 to deal with the protracted eurozone debt crisis.
At 10:30 am (IST), the rupee was at 48.89/90 per dollar after being as high as 48.8550 and as low as 48.9550. It opened at 48.93 as against the previous close of 49.02.
The partially-convertible Indian currency advanced for a second day after European Union Economic and Monetary Affairs Commissioner Olli Rehn said that clarity on a plan to stem the region’s debt problems will emerge in the coming days.
