Weekly wrap-up: Indian rupee appreciates backed by rise in equities

posted by   amrish (67)   2 months ago (www.myiris.com)

The Indian rupee strengthened during the week ended Jul. 04, 2008 to close at Rs 43.30/31, as compared to Rs 42.875/885 a dollar on Jun. 27, 2008 (Friday), after trading close to Rs 42 a dollar level at the beginning of the week. The Indian rupee declined on Jun. 27, 2008 (Friday), weighed down by record high global oil prices that prompted dollar demand from oil refiners, while a steep drop in the local stock market fuelled concerns of further fund outflows. The partially convertible rupee se