Rupee hits seven-month high on foreign portfolio inflows
In short
The rupee rose to a seven-month high on foreign portfolio inflows and better market sentiment, according to Business Standard. It also did better than most Asian currencies, even with a stronger US dollar.
What the reporting says
The rupee strengthened to a seven-month high as foreign portfolio inflows and positive market sentiment lifted demand, even as the US dollar was stronger. Business Standard said the currency outperformed most Asian peers on the back of these inflows.
Why it matters
The rupee strengthened to a seven-month high, with Business Standard attributing the move to foreign portfolio inflows and positive market sentiment. The currency also outperformed most Asian peers despite a stronger US dollar.