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E-mail ID will not be published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

  • Back from the US of A, Modi will now have to walk the talk

    It would be no overstatement to suggest that prime minister Narendra Modi’s five-day trip to the US was an exercise in PR diplomacy.

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

Simon J Evenett

Where the mind leads, actions follow

Whether in business, government, non-profits, or elsewhere, what assumptions underpin ...

Zehra Naqvi

Fading empathy in the modern world

The episode of a man being mauled to death by ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture