The Indian rupee rose sharply against the U.S. dollar in morning deals on Thursday as investor sentiment lifted up on hopes of strong victory to main opposition BJP party in recently held assembly elections.
Strong results to BJP party build chances for their victory in 2004 general election, held by May.
The rupee hit 61.535 against the greenback, a level unseen since November 1. This may be compared to Wednesday's closing value of 62.075. Further rally may see the rupee facing resistance around the 61.00 zone.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.