The rupee may inch higher on Friday, buoyed by gains on Wall Street and other Asian markets and hopes hefty U.S. rate cuts will to draw investments into higher-yielding Indian assets.
* The partially convertible rupee ended at 39.38/39 per dollar on Thursday, a shade stronger than the previous close of 39.39/40. It has hovered in a broad 39.34-39.48 band for most of the week.
* The U.S. Federal Reserve cut rates by a half-percentage point on Wednesday as part of an ongoing effort to halt a sharp slowdown in the world's largest economy, a move which could attract investment flows into India.
* Asian stock markets rose on Friday after one of their worst months on record as concerns eased about the outlook for top bond insurers which have been hit by the U.S. subprime mortgage crisis and credit-related losses.
Today Markets Closed at
BSE 18242.58 + 593.87
* The partially convertible rupee ended at 39.38/39 per dollar on Thursday, a shade stronger than the previous close of 39.39/40. It has hovered in a broad 39.34-39.48 band for most of the week.
* The U.S. Federal Reserve cut rates by a half-percentage point on Wednesday as part of an ongoing effort to halt a sharp slowdown in the world's largest economy, a move which could attract investment flows into India.
* Asian stock markets rose on Friday after one of their worst months on record as concerns eased about the outlook for top bond insurers which have been hit by the U.S. subprime mortgage crisis and credit-related losses.
Today Markets Closed at
BSE 18242.58 + 593.87
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