Rupee Scales New 2-Month High of 64.50

Gold Silver Reports -✅ Rupee Scales New 2-Month High of 64.50 — Showing resistance against early volatility, the rupee on Monday surged by a hefty 20 paise to end at a fresh two-month high of 64.50 even as S&P kept India’s credit rating unchanged. The rupee marked its best closing since September 20. It had tumbled to a low of 64.83 in early trade.

In early trade, the Indian unit resumed almost flat with negative bias at 64.71 from last weekend level of 64.70 in knee-jerk reaction to the S&P rating outcome. But, later drifted sharply to hit a fresh intra-day low of 64.83 on immense dollar pressure before a spirited recovery in mid-afternoon deals. After climbing a fresh high of 64.49 towards the tail-end trade, the local unit finally settled t 64.50. The rupee has appreciated 31 paise last week.  

The BSE Sensex opened lower and stayed in the red for the most part of the day. But sudden buying in the last one hour took it to 33,724.44, up 45.20 points, or 0.13%, from its previous close. The 50-share NSE Nifty ended flat, up by 9.85 points, or 0.09%, at 10,399.55. – Neal Bhai Reports