Rupee edges up; strong shares boost

Tags: Rupee, News
The rupee is trading at 58.43/44 versus its Friday's close of 58.52/53, tracking gains in the domestic sharemarket ahead of prime minister designate Narendra Modi's swearing in ceremony later in the day.

Traders are keenly awaiting the allotment of cabinet portfolios.

The pair is seen holding in a 58.30 to 58.60 range during the session.

The BSE Sensex is trading up 1.3 percent.

Gains in other Asian currencies versus the dollar also likely to hurt the pair.

Traders will, however, remain watchful of RBI intervention to buy dollars in case the pair slips sharply.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The current value of the rupee does not merit market intervention

    The rupee, losing 40 paise per month against the dollar since May, is expected to remain under pressure till the calendar runs out on December 31, bef

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture