Rupee soars as week starts on a higher note

While the bourses have opened on a strong note on the first day of the week, ahead of RBI meet on February 8, the rupee continues its stellar run-up after closing in green on last Friday. The rupee has gained 12 paisa to trade at 67.19 against US dollar, backed by persistent sell off by exporters and banks.

Amid increased foreign fund infusion in the country, US dollar is also showing weakness against other foreign currencies. Further, a higher opening in the domestic capital market gave INR a boost on this Monday morning, with an expectation that interest rate of the country's central bank may decrease, ahead of February 8 committee meet.

The rupee continues to rise higher after a strong closing on last Friday at 67.31 against the US dollar and gaining six paise, to make a fresh two and half month high on heavy dollar unwinding by speculative traders and exporters.

Meanwhile, bourses are continuing to rise to make four-months high. While BSE Sensex have gained as much as 0.83 per cent to make intraday high of 28,477.30. On the other hand, CNX Nifty rose more than 0.77 per cent to make a high of 8,809.10 during the first trade hour on Monday.