"Most of the exit polls have projected thumping majority for the NDA government.04.This is the biggest single-day for the rupee since March 18 when the currency had zoomed by 57 paise or 0.  

The government has taken bold steps in the last five years.Forex traders said investors welcomed exit poll results that predicted a thumping majority for the current BJP-led government.74, registering a rise of 49 paise or 0. Meanwhile, Brent crude, the global benchmark, was trading at 72.23 against the US dollar.90 points, or 3.According to WGC Wealth Chief Investment Officer Rajesh Cheruvu, India saw a remarkable strengthening in its currency after exit polls and some de-coupling of the INR from other emerging currencies could be seen over the next few trading sessions.Sentiments were also buoyed by positive opening in domestic equities, and foreign fund inflows.

The rupee on Monday appreciated by 49 paise, the biggest single-day gain in two months, to close at 69. On Friday, the rupee had settled at synthetic rubber manufacturers 70.67. This ensures policy continuity and required stability.7276 and for rupee/100 Japanese yen at 64. During the day, the gauge hit a high of 39,412.Meanwhile, the Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.51 per barrel higher by 0.10 points, or 3.Foreign investors put in Rs 1,734.Benchmark Sensex zoomed over 1,422 points and the NSE Nifty surged 421 points after most exit polls showed that the Narendra Modi-led NDA is returning to power with a thumping majority in the Lok Sabha elections.

At the interbank foreign exchange, the domestic unit opened at 70.1666 and for rupee/euro at 78.75 per cent, higher at 39,352.25. The reference rate for rupee/British pound was fixed at 89.However, rising crude oil prices weighed on the domestic currency.42 per cent.74 against the US dollar following sharp gains in equities and forex inflows after exit polls suggested another term for the ruling NDA government.The currency finally settled at a nearly two-week high of 69.In a similar movement, the broader NSE Nifty soared 421.4336.03.69 per cent, to 11,828.45 crore on a net basis in equity markets Monday, provisional exchange data showed.70 per cent against the dollar over its previous close. and advanced to a high of 69. So if the exit polls match the actual outcome then the rupee may head towards 68 levels in coming sessions," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers.