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Rupee gains in forex market
Posted on: 17/Jul/2013 12:04:55 PM
In early trading at the Interbank Foreign Exchange market, the rupee gained 21 paise after the liberalization in FDI limits by the government.
‘The government liberalising FDI limits in a dozen sectors, including allowing 100 per cent in telecom and higher limits in `state-of-the-art` defence manufacturing, in a bid to lure capital inflows, in a bid to curb the sliding rupee and to boost sagging economy, boosted the local currency. A higher opening in the domestic equity market, too, helped the rupee to strengthen’, said forex dealers.
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