Rupee near three-week high; large corporate sells dollars
Sep 11 2013
Pair at 63.35/36 after dropping to 63.28, its highest since August 23, and 63.84/85 last close.
Several dealers cite selling by a large private petrochemical company.
Some dealers also cite selling related to possible front-running due to inflows towards Mylan Inc's $1.6 billion deal to acquire a unit of Strides Arcolab Ltd.
Dealer says convincing break of 63.30 means 63 will be next support.