India rupee hits 1-month high; key ally to support govt on FDI vote
MUMBAI Dec 6 (Reuters) - The Indian rupee strengthened to its highest level in a month on Thursday as investors grew hopeful the government would be able to win a key vote on foreign direct investment in retail in the upper house of parliament on Friday.
At 3:33 p.m. (1003 GMT), the partially convertible rupee was at 54.17/18 per dollar, its strongest since Nov. 7. It had closed at 54.54/55 on Wednesday.
Stocks and the rupee started rising after Bahujan Samaj Party, which had abstained in the lower house, said it will now support the government's move to allow FDI in retail, which may help tilt the vote in the favour of the government. (Reporting by Swati Bhat; Editing by Anupama Dwivedi)
- Tweet this
- Share this
- Digg this
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday. Full Article
Top rice exporter India importing over 100,000 T on temporary supply squeeze. Full Article