Rupee Gains 225 paise with Reserve Bank help Thursday Aug 29,2013

From a record low of 68.85 per dollar on Wednesday Aug 28,2013 when the currency posted its biggest single-day percentage fall since October 1995,the rupee rose as high as 66.85 per dollar shortly after the open and gained 3.46 % to close at 66.55/56 a dollar on Thursday Aug 29,2013

The Rupee recovery is partly due to the RBI stepping in to handle the dollar requirements of refiners instead of dealing with it in the spot market

Mirroring the turnaround in rupee, stock markets on Thursday Aug 29,2013 soared with the S&P BSE benchmark Sensex logging its best gain in a week of nearly 405 points to end at 18,401.04 on across-the-board buying after RBI opened a special window to help PSU oil firms meet daily forex needs

National Stock Exchange index Nifty rose by 124.05 points, or 2.35 per cent, to end at 5,409.05 led by stocks of refinery, metal and FMCG sectors on Thursday Aug 29,2013