Rupee near 3 week high as foreign banks sell dollars

Tags: News
The rupee is trading at 59.57/58 after hitting 59.52, its highest level since June 13 and higher than the previous close of 59.6875/6975 as foreign banks continue to sell dollars on behalf of overseas investors.

Foreign institutional investors bought shares worth $216.13 million on Wednesday, provisional exchange data shows.

Local shares up 0.3 percent in early trade.

Most Asian currencies weakened against the dollar.

Asian stocks hovered at a three-year high and the dollar rose early on Thursday after robust jobs data fuelled hopes that the U.S. nonfarm payrolls report would point to momentum building in the economy.

EDITORIAL OF THE DAY

  • Reserve Bank must be commended for holding policy rate

    The Reserve Bank of India has been prudent in retaining repo rate at 7.25 per cent.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Roopen Roy

Smart idea? Tweak and implement

India is at the cusp of a startup boom. We ...

Rajgopal Nidamboor

Be mindful and you can beat the odds

It is as obvious as apparent can be. When our ...

Dharmendra Khandal

Go spot a gecko

Iam sure you must have read about how a lizard ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture