Rupee Gains 85 paise per US Dollar Friday Aug 30,2013

 

The rupee regained some of its lost value against the dollar on Friday to close at 65.70/71 per dollar compared to its previous close of 66.55/56 on Thursday

 The Reserve Bank of India (RBI) decision to allow the public sector oil marketing companies to approach a mandated bank for their foreign currency requirements on a currency swap basis helped the demand move away from the spot market

 Tracking a rebound in the rupee’s value against the dollar, stock indices surged on Friday with the Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) gaining 218.68 points to close at 18619.72. 

 On National Stock Exchange (NSE), the 50-share Nifty closed at 5471.80, with a gain of 62.75 points