The Indian rupee strengthened against the U.S. dollar in after noon trading on Friday. The rupee hit a 3-day high of 55.21 per dollar with 55.00 seen as the next upside target level. The pair ended Thursday's deals at 55.555.
India's central bank has been monitoring the rupee and has taken steps to improve dollar inflows, Reserve Bank of India Governor Duvvuri Subbarao said Thursday.
The central bank is ready to take necessary steps to curb speculation, the chief said. He views the rupee movement as a function of external situation.
by RTT Staff Writer
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