Photo: MintMumbai: The Indian rupee on Tuesday hit a four-month high against the US dollar after lower-than-expected US payroll data reduced fears of a rate hike by the US Federal Reserve. Gains are also boosted due to continued buying interest from foreign institutional investors (FIIs) in local equity markets. The rupee opened at 66.55 per dollar and touched a high of 66.51, a level last seen on 9 May. Thai baht was down 0.22%, Philippines peso 0.21%, Malaysian ringgit 0.18%, Japanese yen 0.15%, Singapore dollar 0.1%, Taiwan dollar 0.1%, South Korean won 0.07% and China renminbi fell 0.05%. The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.809, down 0.03% from its previous close of 95.844.

Source: Mint September 06, 2016 04:06 UTC