Forex tips: The rupee strengthened by 10 paise at 62.16 against the US dollar in early trade today at the Interbank Foreign Exchange after rating agency Moody's upgraded India's outlook from stable to positive. Besides, selling of the American currency by exporters and banks and a higher opening in domestic stock market supported the rupee but the dollar's strength against other currencies overseas limited the gains, forex dealers said. The rupee had ended marginally higher by two paise at 62.24 against the American currency in yesterday's trade due to weakness of the Greenback in international markets.
Rouble hits 2015 high as Ukraine crisis seen easing
The rouble surged on Thursday to new 2015 highs on abiding hopes it would rally further as concern over the Ukraine crisis eased. The currency rose more than 2 percent against the dollar and euro, its fourth consecutive day of gains. Oil recouped 2 percent of Wednesday's 6-percent slump. Emerging equities also rallied, with the MSCI emerging stocks index rising 0.7 percent to touch new six-month highs as investors put aside worries that plans by the U.S. Federal Reserve to raise rates would undermine emerging assets. Asian stocks were also stronger, extending the previous day's gains to rise 0.7 percent Hong Kong shares surged 2.7 percent, touching a seven-year peak, fuelled by money inflows from mainland Chinese investors buying cheaper shares after a 60-percent rally in Shanghai in the past five months. The Shanghai Composite Index was 1 percent weaker on Thursday, however.
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