{"id":162337,"date":"2013-12-23T23:46:57","date_gmt":"2013-12-23T23:46:57","guid":{"rendered":"http:\/\/151.106.38.4\/2013\/12\/23\/rupee-hits-1-week-high-on-raghuram-rajan-comments\/"},"modified":"2013-12-23T23:46:57","modified_gmt":"2013-12-23T23:46:57","slug":"rupee-hits-1-week-high-on-raghuram-rajan-comments","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2013\/12\/23\/rupee-hits-1-week-high-on-raghuram-rajan-comments\/","title":{"rendered":"Rupee hits 1-week high on Raghuram Rajan comments"},"content":{"rendered":"<p><img src=\/old_site\/><\/p>\n<div>The rupee strengthened on Monday to its highest level in nearly a week, boosted by the Reserve Bank of India chief\u2019s comment on reluctance to \u201covertighten\u201d monetary policy after leaving interest rates unchanged in a surprise move last week.<\/div>\n<div>Governor Raghuram Rajan said the central bank had tilted towards keeping rates on hold even before November consumer and wholesale price inflation data were released.<\/div>\n<div>In an interview to a television channel, he said when growth is weak, we have to be careful of \u201cover-tightening\u201d.<\/div>\n<div>\u201cThe governor\u2019s comments helped the rupee a bit. At least the market now thinks that the central bank will consider growth as well when framing monetary policy,\u201d said Hari Chandramgethen, head of foreign exchange trading at South Indian Bank.<\/div>\n<div>\u201cI expect some support for the dollar\/rupee around 61.65 levels with the pair broadly holding in a 61.60 to 62.40 range until the year-end.\u201d The partially convertible rupee closed at 61.9525\/9625 per dollar compared with 62.04\/05 on Friday. The rupee rose to as high as 61.8350 after Rajan\u2019s comments, its highest level since December 18.<\/div>\n<div>Traders said gains in the domestic share market throughout the day also boosted sentiment for the rupee.<\/div>\n<div>Indian shares edged higher as blue chips gained on continued foreign inflows despite last week\u2019s decision by the U.S. Federal Reserve to start reducing its bond purchases, although a fall in Infosys Ltd capped broader gains.<\/div>\n<div>Dealers will continue to monitor movements in other Asian currencies and the euro for near-term direction in the absence of any major domestic factors, with volumes also lower on account of year-end holidays globally.<\/div>\n<div>In the offshore non-deliverable forwards, the one-month contract was at 62.42, while the three-month was at 63.23.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The rupee strengthened on Monday to its highest level in nearly a week, boosted by the Reserve Bank of India chief\u2019s comment on reluctance to \u201covertighten\u201d monetary policy after leaving interest rates unchanged in a surprise move last week. Governor Raghuram Rajan said the central bank had tilted towards keeping rates on hold even before [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-162337","post","type-post","status-publish","format-standard","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/162337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=162337"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/162337\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=162337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=162337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=162337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}