Markets

India rupee hits 1-month high; key ally to support govt on FDI vote

Published December 6, 2012 Updated December 6, 2012 10:12am

 

At 3:33 p.m. (1003 GMT), the partially convertible rupee was at 54.17/18 per dollar, its strongest since Nov. 7. It had closed at 54.54/55 on Wednesday.

 

Stocks and the rupee started rising after Bahujan Samaj Party, which had abstained in the lower house, said it will now support the government's move to allow FDI in retail, which may help tilt the vote in the favour of the government.

Copyright Reuters, 2012