Indian Rupee Touched High on 18th Feb'11

Many thanks to some well performing indices which helps stock market to recover from lossy days. The nifty goes up and it is looking in sustainable position.

And as stock rally sustains Rupee hits one-month high.

In the morning, the partially convertible Indian currency was at 45.1850 per dollar, its highest since Jan. 14 and 0.3% stronger than its close of 45.34/35 on Thursday.

 The rupee touched its best level in more than a month in early trades on Friday as the stock market extended its recent winning sequence to a sixth successive day. All is going good today and it is expected , stock market will also move in the same way to make profit.

In the global currency markets, the dollar and the yen headed for weekly declines against major counterparts.

The yen traded within 0.5% of a six-month low against the pound.

The dollar was close to a one-week low.

Australia’s amid growing global risk tolerance.

South Korea’s won is headed for its biggest weekly gain this year on speculation that the central bank will boost interest rates next month to curb inflation.