RTTN:Indian Rupee Rises To Fresh 2-month High Against US Dollar
(RTTNews) - The Indian rupee extended its 2-day winning streak against the dollar on Wednesday, hitting as high as 50.38, its highest level since November 15, 2011. If the rupee extends gains, it may break through the key resistance of 50.0 for the first time in more than 2-months.
Indian shares ended a lackluster session little changed with a negative bias. The benchmark 30-share Sensex ended down 15 points or 0.1 percent at 16,451, while the broader Nifty index fell 12 points or 0.23 percent to 4,956.
Investors booked some profits after yesterday's rally, as caution prevailed ahead of today's auction of German and Portuguese bonds and a crucial meeting in Greece between the government and private creditors.
While other Asian markets ended mixed, European stocks reversed early losses on a report that the International Monetary Fund is seeking to raise its lending resources by $1 trillion.
