Mumbai: The rupee gains to 55.77/78 versus its 55.62/63 close on Wednesday. Near-term resistance is seen at 55.9250, the 10 July intraday high.
Pair had earlier spiked to as high as 55.8250 as global risk assets were under pressure in Asia after a surprise rate cut in South Korea and a 50-basis point reduction in Brazil underscored the widespread nature of the current slowdown.
India’s main BSE stock index fell 1.5%, weighed down by a slump in software services exporter after Infosys sharply cut its revenue guidance.
The euro fell to a two-year low against a broadly firmer dollar on Thursday.
However, some foreign investor flows help cap broader losses in the rupee, according to dealers.
