Mumbai: The rupee today bounced back in
style to end at a one-week high of 65.01 against the US dollar
after Moody's upgraded the country s sovereign rating.
In its biggest single-day surge in six weeks, the home
currency settled the day with a solid 31 paise gain.
The rating upgrade comes after a gap of 13 years -
Moody's had last upgraded India's rating to 'Baa3' in 2004.
Stamping one of the most significant milestones, the
global credit rating agency Moody's today upgraded India's
sovereign credit rating by a notch to 'Baa2' with a stable
outlook.