RTTN: Indian Rupee Surges Up To 1-week High Against U.S. Dollar
The Indian rupee firmed against the U.S. dollar in evening deals on Friday as global risk sentiment lifted up following comments from Fed officials supporting continued stimulus measures.
The Federal Reserve officials emphasized yesterday that the central bank's bond buying program would only end when there are clear signs of economic improvement visible.
Indian government's approval for a gas price hike for the first time in three years also supported rupee rally.
The rupee touched a 1-week high of 59.2555 against the dollar, up almost 1.6 percent from Thursday's closing quote of 60.1955. The rupee may eye next upside target level around the 59.00 area.
