Reversal in dollar stops rupee rally

It was another volatile week for the rupee. The currency gained momentum after breaking above the crucial resistance level of 64 on Wednesday. The 25-basis point (bps) interest rate cut from the Reserve Bank of India last week pushed the rupee above the critical barrier of 64 which has been capping the upside for the currency for the last four months. The rupee touched a high of 63.57 and reve...