Rupee near 6-month high; reform moves boost
Posted on: 09:47 AM IST Oct 05, 2012
Mumbai: The rupee rose to a near six-month high in opening trade on Friday after the government took more reform measures to attract foreign investment. India's cabinet approved bills on Thursday to attract foreign investment into insurance and pensions among new measures to restore confidence in the economy, although the reforms will face a tough fight in parliament.
Positive global risk sentiment and a stronger euro also aided gains, dealers said.
At 9.02 am local time, the rupee was at 51.43/45 as against 51.74/75 Thursday close. It rose to 51.32, its highest since April 13.