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Nifty hits record, rupee reaches 17-month high

The partially convertible rupee hit as much as 65.2250 per dollar, its strongest since October 30, 2015. Photograph: (AFP)

Reuters Mumbai, Maharashtra, India Mar 16, 2017, 05.04 AM (IST)

The NSE Nifty hit a record high while the rupee rose to its strongest level in nearly 17-months on Thursday after the U.S. Federal Reserve raised interest rates as expected but signalled no pick-up in the pace of tightening. 

The NSE Nifty rose as much as 0.64 per cent to a record high of 9,143 points, and was up 0.59 per cent as of 0350 GMT. The benchmark BSE Sensex was up 0.55 per cent.

The partially convertible rupee hit as much as 65.2250 per dollar, its strongest since October 30, 2015. It was last trading at 65.32/33 compared to its 65.71/72 close.

Meanwhile the benchmark 10-year bond yield fell 4 basis points to 6.79 per cent.

(Reuters)

 

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