Rupee edges up on hopes of foreign fund inflows

Tags: News
Rupee trading at 60.22/23 versus its close of 60.30/31, as the dollar makes losses versus other Asian currencies with hopes of foreign fund inflows into the local sharemarket continuing to cheer.

Foreign investors bought shares worth $26.73 million on Monday, a fourth straight day of purchases. The Nifty is trading up 0.43 percent in preopen trade, raising hopes for more foreign fund inflows.

Traders, however, expect some dollar demand from importers during the session, which will limit any sharp gains in the rupee. The Indian unit is seen moving in a 60.10 to 60.50 range during the day.

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