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Rupee gains 7.45% against dollar in January; best month in 17 years!

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Tuesday, 31 January 2012

Rupee gains 7.45% against dollar in January; best month in 17 years!

MUMBAI: The rupee logged its best monthly gains in more than 17 years in January aided by a rebound in foreign fund inflows as investors bet on a monetary easing to accelerate growth in Asia's third-largest economy. 


Overseas investors bought Indian shares worth $2.1 billion so far in January, after net outflows of about $500 million in 2011, and invested $3.3 in debt. 


"Renewed capital inflows aided by peak in Indian rate cycle and easing inflation are pushing the rupee higher," said Chin Thio, senior forex strategist at BNP Paribas in Singapore

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