Rupee hits 3-week high

Tags: News
The rupee is trading at 60.52/53 versus the dollar after hitting 60.49, its highest since July 31 and higher than Thursday's close of 60.67/68. The pair is seen in a range of 60.40 to 60.80 during the session.

Traders will monitor debt market flows after foreign funds bought $2.65 billion in a single session on Wednesday.

The index of dollar versus six majors is marginally lower.

Asian shares rose in early trade after upbeat US data sparked another record close on Wall Street.

Local shares will be watched for cues on fund flows. The Nifty is up 0.4% in early trade.

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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

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