Rupee rises; custodians sell dollars

Tags: Rupee, News
The rupee is marginally higher at 60.03/04 versus its Wednesday close of 60.07/08, as custodian banks sell dollars.

Foreign institutional flows continue to hurt the pair. Overseas investors bought Indian shares worth $142.8 million on Tuesday, provisional exchange data shows. The BSE Sensex is trading up 0.65 percent.

USD/INR is seen trading in a range of 59.90 to 60.10 during the session, dealers say.

Most Asian currencies trading stronger against the dollar.

Traders expect the RBI to step up dollar purchases should foreign fund inflows continue through the day.

The RBI bought a net $14.51 billion in the forward market in May compared with net forward dollar sales of $6.09 billion in April, according to Reuters calculations based on data available on the RBI's website.

EDITORIAL OF THE DAY

  • The government must only sell PSU stocks that are in demand

    The government’s move to change the methodology of selecting merchant bankers for divesting stake in various public sector undertakings would save d

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

BK Chaturvedi

Delhi and its democratic core

In the last one month, questions have been raised about ...

Kuruvilla Pandikattu SJ

Moral basis for collective living

Laudato si (Praise Be to You”) the second circular letter ...

Dharmendra Khandal

Have you spotted those wasps, yet?

Wasps are insects that ride on the monsoon winds. I ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture