Rupee edges up tracking share gains, seen ranged

Tags: News
The rupee is trading at 59.67/68 versus its close of 59.73/74 as gains in the domestic sharemarket raise hopes for continuation of foreign fund inflows.

Overseas investors bought Indian shares worth $159.20 million on Thursday, provisional exchange data shows.

The BSE Sensex is trading up 0.2 percent.

The rupee is expected to hold in a range of 59.40 to 59.80 during the session. Most other Asian currencies also trading stronger compared to the dollar.

The Reserve Bank of India on Thursday restored the overseas investment limit of Indian companies to 400 percent of the firm's net worth after the rupee rebounded from last year's record low levels against the dollar.

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