Rupee edges down, off 11-month highs

Tags: Rupee, News
The rupee is trading at 58.64 per dollar versus its previous close of 58.59/60.

The rupee hit an 11-month high of 58.32 per dollar on Monday, on the back of strong foreign buying into shares.

Overseas investors bought Indian shares worth 13.50 billion rupees ($230.83 million) on Monday, provisional exchange data showed. Foreign inflows have surged to $2.2 billion in May so far already, much above the $1.6 billion seen last month.

Since Sept. 13, when Narendra Modi was announced as the prime ministerial candidate for the Bharatiya Janata Party, foreign inflows have soared to nearly $14.3 billion, exchange data shows.

The rupee is seen moving in a 58.40 to 58.80 range during the session.

EDITORIAL OF THE DAY

  • Saffronites need to build their own edifices and narratives

    The news that the BJP-led NDA government, no admirers of India’s first prime minister, want to give a ‘contemporary’ look to the capital’s mos

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Amita Sharma

Examining times for learning

The central advisory board of education in its meeting on ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture