India Rupee in Biggest Weekly Rally since September as BJP Leads!

The Indian rupee strengthened to its highest level in about 10 months on Thursday, while also posting its biggest single-day gain in nearly three weeks on the back of sustained dollar inflows into domestic shares ahead of election results. Hopes that the Bharatiya Janata Party and its allies will win an outright majority have helped fuel gains in shares, given the perceptions that the opposition party is more business and reform friendly. The partially convertible rupee closed at 59.29/30 per dollar, after hitting 59.10, its strongest level since July 29 and higher from its Tuesday's close of 59.66/67. The rupee rose 0.6 percent for the day, its biggest single-day gain since April 25.

Today’s Headlines

1) India Rupee in Biggest Weekly Rally since September as BJP Leads
2) Euro Drops as Peripheral Bonds Fall Amid Economic Pace Concern
3) Chile Keeps Rates on Hold as Prices Rise Fastest in Five Years
4) Mexico’s Peso Rises as U.S. Housing Data Boosts Economic Outlook

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