PC pep talk drives rupee & Sensex up

Aug 24, 2013 |

Age Correspondent

The rupee registered its biggest single-day gain in a year, surging 2.1 per cent against the dollar, as some positive comments from Union finance minister P. Chidambaram and an assurance from the Reserve Bank about sufficient foreign exchange reserves calmed invest-ors’ nerves on Friday.

Sentiment also improved after the equity markets showed some signs of stability as FII moderated heavy selling. The rupee closed the day on Friday at 63.20 per dollar, against the previous day’s close of 64.55.
The BSE’s benchmark Sensex surged higher for the second day running, rising 206.50 points to end the day at 18,519.44.

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