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.

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E-mail ID will not be published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

  • If the first 17 editions of Saarc were tragedies, Kathmandu was a sham

    Rarely has a regional grouping such as the South Asian Association of Regional Cooperation (Saarc) promised so much and delivered so little.

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

Varun Dutt

By the power of wind, let there be light

In India, the development of wind power began in the ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture