By NIMY Sara Joy
Mumbai, Feb. 03- The rupee got back its strength as it is in highest of the two weeks. Rupee closed its highest cost by costing as 46 per dollar.
A day after it had come down its lowest value in three months, the partially convertible rupee closed at its peak 45.97/98 per dollar. BSE share index scored 2.1 percent increase. This is the biggest grow in six weeks, supported by stronger world markets.
Local shares of the foreign fund investors have an important role to drive the worth of rupee. As nearly, $2 billion worth of stocks from foreigners in 12 of the 14 last trading sessions shows the importance of foreign investors in economy.
India’s largest power producer, NTPC Ltd started consequential share sale to go up at least $1.8$ billion Wednesday and this issue will close on 5 Feb.
A senior trader with a foreign bank said, “The stock market rally supported sentiment, but the main factor remained money pouring in for NTPC’s public issue.”
After the European Commission supported a Greek deficit-cutting graph, the currency clutched back the gain. The euro’s gains over the dollar also helped the positive response. The most traded near-month dollar-rupee contracts on NSE and MCX-SX stopped at 46.0450 and 46.0425 correspondingly.
