Rupee hits 4-mth high of 66.60/$
|Source: The Hitavada Date: 11 Mar 2017 09:44:01|
THE rupee on Friday made a resounding comeback after a brief overnight pause and ended 11 paise higher at a fresh 4-month high of 66.60 against the dollar on renewed selling of the US currency by exporters and banks.
This is the highest closing of the rupee since November 10, 2016. The home currency resumed a bit soft at 66.72 from Thursday’s close of 66.71 at the interbank foreign exchange (forex) market and weakened further to 66.73 on initial stray dollar demand. But, later it regained strength to hit an intra-day high of 66.56 before ending at 66.60, showing a smart gain of 11 paise, or 0.16 per cent.