Rupee regains 63 levels |
The Indian Rupee regained value and was trading at Rs 63.95 to a US Dollar in the foreign exchange market on May 8. The domestic currency gained on the back of a sharp recovery in equity markets. Forex Dealers said that the Rupee gain was entirely on the back of the gains in the equity markets. There was an anticipation that foreign investors are likely to return with the government providing some assurances on addressing their concerns over Minimum Alternate Tax.
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