The Indian currency rose to 42.66 against the US dollar at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on June 6. After the inflation figures were announced on Friday, the rupee is seen to strengthen further as analysts expect the Reserve Bank of India to action soon to ease price pressures.
Inflation for week ended May 24 is at 8.24 per cent, up from 8.1 per cent of the previous week. The central bank had recently announced measures to provide liquidity to state oil firms to ease their cash crunch. The central bank''s supply of dollars to the oil firms for their crude import is seen contributing to the rupee rise against the dollar.
Inflation for week ended May 24 is at 8.24 per cent, up from 8.1 per cent of the previous week. The central bank had recently announced measures to provide liquidity to state oil firms to ease their cash crunch. The central bank''s supply of dollars to the oil firms for their crude import is seen contributing to the rupee rise against the dollar.
No comments:
Post a Comment