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Business Market 13 Mar 2017 Modi's victory leads rise in Indian rupee

Business, Market

Modi's victory leads rise in Indian rupee

PTI

Published : Mar 13, 2017, 12:36 pm IST

Updated : Mar 13, 2017, 5:00 pm IST

The rupee gained around 0.5 percent in one-month non-deliverable forwards (NDFs) trading to 66.35 per U.S. dollar.

Mumbai: The Indian rupee rose in non-deliverable forwards trading on Monday, after Prime Minister Narendra Modi's party won a landslide victory in an important battleground state.

Modi's victory in Uttar Pradesh strengthens his claim to a second term in national elections in 2019, and is seen as an endorsement of his economic reform agenda.

The rupee gained around 0.5 percent in one-month non-deliverable forwards (NDFs) trading to 66.35 per U.S. dollar.

Tags: indian rupee, us dollar, narendra modi

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