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Rupee rises for third day in a row
Monday May 28, 2012 08:22:18 PM,
IANS
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Mumbai: After hitting
a record low of 56.40 against the dollar last week, Indian rupee
strengthened for the third consecutive session Monday, helped by
the Reserve Bank of India's intervention and improved cues from
the global markets.
The partially convertible rupee rose to 55.18 against a dollar
Monday as compared to the previous day's closing level of 55.37.
This is the third consecutive day of gain in the value of rupee.
The Indian currency has strengthened by 2.2 percent in the last
three trading sessions, the biggest gaining streak in almost three
months.
The rupee has recovered in the last three sessions after hitting
seven consecutive record lows in the previous seven trading
sessions.
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