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. The Indian rupee fell slightly! 778.
Today’s Headlines
1) Most Indian Stocks Gain before Election Results; Rupee Rallies
2) Euro Declines to 11-Week Low versus Dollar on ECB Bets
3) Euro-Area Growth Missing Forecast Keeps Pressure on ECB
4) Russian Growth Slowest Since 2009 on Sanctions, Poll Says
5) Reid Moves to Set Senate Vote on Fischer Fed Nomination
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
Today’s Headlines
1) Most Indian Stocks Gain before Election Results; Rupee Rallies
2) Euro Declines to 11-Week Low versus Dollar on ECB Bets
3) Euro-Area Growth Missing Forecast Keeps Pressure on ECB
4) Russian Growth Slowest Since 2009 on Sanctions, Poll Says
5) Reid Moves to Set Senate Vote on Fischer Fed Nomination
Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf
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