RTTN:Indian Rupee Advances To Near 5-week High Against U.S. Dollar
The Indian rupee rose sharply against the U.S. dollar in morning deals on Thursday as investor sentiment lifted up on hopes of strong victory to main opposition BJP party in recently held assembly elections.
Strong results to BJP party build chances for their victory in 2004 general election, held by May.
The rupee hit 61.535 against the greenback, a level unseen since November 1. This may be compared to Wednesday's closing value of 62.075. Further rally may see the rupee facing resistance around the 61.00 zone.
