| Date: |
29-05-2012 |
| Subject: |
Rupee closes at 55.18 against dollar |
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Mumbai: The Indian rupee rose for a third successive session on Monday, its biggest winning streak against the dollar in over two-and-half months, as a recovery in global risk sentiment helped local stocks post strong gains.
The rupee, which hit a record low of 56.40 to the dollar on Thursday after a string of all-time lows, has since recovered 2.2%, helped by a mix of central bank interventions and improved global risk appetite.
The rupee closed at 55.185/195 per dollar after ending at 55.37/38 on Friday, as per SBI data.
RBI eases banks’ term deposit restrictions
The Reserve Bank of India has removed restrictions imposed on banks which earlier prevented lenders from levying penalty on customers for foreclosure of some term deposits.
RBI said in a notification issued on Monday that banks can formulate their own interest rate policies on foreclosure of term deposits for better asset-liability management.
Source : financialexpress.com
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