The partially convertible Rupee ended at 44.44/45 after touching 44.4250, its strongest since Sept. 8, 2008
Indian Rupee strengthened further against the US Dollar on Monday even as the BSE Sensex touched its highest levels in more than two years. Strong overseas portfolio inflows in the nation's stocks and bonds also helped boost the sentiment.
The partially convertible Rupee ended at 44.44/45 after touching 44.4250, its strongest since Sept. 8, 2008. It opened at 44.9950 as against last Wednesday's close of 44.89/90.
The debt and currency markets were shut last Thursday for the annual book closing of banks and the following day for Good Friday.
The dollar index, which measures the greenback against six major currencies, was down 0.1%.
The Rupee has appreciated nearly 4% this year, Asia’s best performance after Malaysia’s ringgit.
Meanwhile, the yen rose against the Dollar, ending four days of losses, on speculation that Japanese exporters bought the currency after it touched a seven-month low.
The pound advanced against 14 out of its 16 major counterparts after polls showed the UK’s main opposition Conservative Party extended its lead over Gordon Brown’s ruling Labour Party.
Financial markets in Europe, Australia, New Zealand and Hong Kong are closed today for the Easter holiday.
