Rupee rises on bunched-up dollar inflows after bank strike

Tags: Rupee, News
The rupee rises to 62.08/09 versus its close of 62.22/23 on Tuesday on bunched-up dollar inflows. Gains in global risk assets hurt the dollar.

State-run banks were on a two-day strike starting Monday, leading to more dollar flows hitting the market on Wednesday.

Traders however see strong support around 62.05 levels holding the USD/INR pair in a 62.05 to 62.40 range during the day.

The BSE Sensex is trading in the green, tracking gains in Asian counterparts as upbeat trade data from China and an optimistic economic outlook from Federal Reserve Chair Janet Yellen whetted investors' appetite for risk.

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E-mail ID will not be published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

  • The world is moving away from fast food like never before

    Despite spending $1.8 billion every year on worldwide advertising and promotion, McDonald’s sales are plummeting.

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

Urs Schoettli

It’s time for Japan to step out of its shell

The execution of a Japanese hostage by ISIS has sho­cked ...

Zehra Naqvi

The urge to tell stories

One wants to tell a story, like Scheherzade, in order ...

Bubbles Sabharwal

Truth about truth

The question to ponder is, “is it the truth because ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture