Rupee gains most in a week; steps by new RBI chief aid

MUMBAI (Reuters) - The rupee gained its most in a week on Thursday after new Reserve Bank of India (RBI) chief Raghuram Rajan unveiled a spate of measures late Wednesday to attract more inflows, including offering a concessional forex swap rate to banks for attracting deposits from overseas Indians.

The rupee gained 1.6 percent to close at 66.01/02, versus 67.065/075 Wednesday close, a second day of gains and its biggest daily percentage gain since August 29. It rose to an intraday high of 65.53.

Dealers cited corporate outflows from a large private petrochem company and a gas utility, which led the rupee to lose some gains later in the session.

(Reporting by Subhadip Sircar; Editing by Subhranshu Sahu)

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.

Matches