Rupee hits eight-month high with Sensex, Nifty

Mumbai: The rupee strengthened to its highest level in eight months on Wednesday morning, helped by hopes of continued foreign fund inflows while gains in other Asian currencies also underpinned sentiment.

The Nifty rose as much as 0.50 per cent to an all-time high of 6,622.80, while the Sensex also rose 0.5 per cent to a lifetime high of 22,162.52 to surpass their previous record highs hit just on Tuesday.

According to aNALYSTS,  India's current account deficit has narrowed sharply, while inflation has eased to a 25-month low.

Blue chips such as ICICI Bank extended recent gains bolstered by buying from foreign institutional investors, while strength in other Asian markets also helped.The partially convertible rupee trading at 60.18/19 per dollar, compared with its close of 60.48/49 on Tuesday and after hitting 60.17, its highest since July 30.