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Indian rupee at over 1-week high, past 55/dollar; vote on retail

Source : REUTERS
Last Updated: Fri, Nov 30, 2012 18:41 hrs

MUMBAI, Nov 29 (Reuters) - The Indian rupee rose to an over one-week high on Thursday, breaching 55 to a dollar, after the government agreed to a vote in parliament on multi-brand retail, sparking hopes of the passage of much needed reforms legislation.

The rupee was trading at 54.98/99 to a dollar, its highest level since Nov. 20. It had last closed at 55.45/46 on Tuesday.

The Indian government bowed to intense opposition pressure and agreed on Thursday to a vote on its decision to let foreign supermarkets set up shop in India, taking a major step towards ending a deadlock that has paralysed parliament for days.

(Reporting by Subhadip Sircar; Editing by Anupama Dwivedi)




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