Market News
Rupee touches over two-week high on dollar inflows, gains in Asia FX - REUTERS
MUMBAI, Nov 25 (Reuters) - The Indian rupee rose its strongest level on in over two weeks on Monday, boosted by gains in regional peers and likely dollar inflows on account of the rebalancing of MSCI's equity indexes.
The rupee was at 84.30 as of 11:00 a.m. IST, its highest since Nov. 7, up 0.1% from its close at 84.4450 in the previous session.
While the local unit had declined to its all-time low of 84.5075 on Friday, prompting intervention by the Reserve Bank of India (RBI), a pullback in the dollar index and U.S. bond yields offered some respite on Monday alongside dollar inflows, traders said.
