Rupee breaks below 55/dlr; hits 2-wk high

The rupee strengthened further today afternoon, breaking below the 55 per dollar mark as inflows from custodian banks continued with equity markets staying firm, while a foreign bank was spotted selling dollars, traders said.

The rupee strengthened further on Thursday afternoon, breaking below the 55 per dollar mark as inflows from custodian banks continued with equity markets staying firm, while a foreign bank was spotted selling dollars, traders said.

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At 1:07pm, the partially convertible rupee was at 54.99/01 per dollar, after hitting 54.9850, its strongest since May 22 and stronger than its previous close of 55.36/37 on Wednesday.

Traders said gains in the euro were also boosting sentiment for riskier assets.