INR jumps to 2-month high on robust GDP growth
Mumbai, Sept. 1 -- The Indian rupee recovered to a two-month high in opening trades on Tuesday on robust domestic growth, contained fiscal slippage, and portfolio-related inflows. INR opened at Rs 95.06 per dollar and hit a high of 94.84 so far during the day, its highest level since July 1st. Official data showed the Indian economy expanded more than expected in the June quarter, fueled by investment and spending. GDP logged an annual growth of 7.8 percent in the April to June period, stronger than economists' forecast of 7.1 percent. However muted local equities following global peers and rising crude oil prices are likely to cap sharp gains in the counter. The BSE SENSEX is trading at 76,846.31, down 110.96 points (-0.14%), while the N...
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