The rupee rallied as much as 0.7% to 194.2813 per dollar on Thursday, a
one-month high, after the Reserve Bank of India reported banks raised about
$127.0 bln via a special non-resident Indian deposit scheme and $9.15 bln from
two other measures, totaling roughly $136.15 bln — well above the governor's
$80.0 bln estimate last month. Market participants said the large inflows
boosted sentiment and left scope for further appreciation.
