Indian Rupee gains most in a week; steps by new RBI Chief aid

Friday, 6 September 2013 03:32 - - {{hitsCtrl.values.hits}}

Reuters: The rupee gained its most in a week on Thursday after new Reserve Bank of India (RBI) chief Raghuram Rajan unveiled a spate

of measures late Wednesday to attract more inflows, including offering a concessional forex swap rate to banks for attracting deposits from overseas Indians. The rupee gained 1.6% to close at 66.01/02, versus 67.065/075 Wednesday close, a second day of gains and its biggest daily percentage gain since August 29. It rose to an intraday high of 65.53. Dealers cited corporate outflows from a large private petrochem company and a gas utility, which led the rupee to lose some gains later in the session.