Rupee steady, stocks watched for direction

Tags: Rupee, News
The rupee is trading at 59.90/91 compared to its previous close, tracking largely unchanged domestic sharemarket with mixed Asian currencies failing to provide any clear direction.

The BSE Sensex will be watched during the day for cues on foreign fund flows which have been a key factor aiding the rupee in recent sessions.

Traders expect gains in the rupee to be capped around 59.60 levels as the Reserve Bank of India will likely step up dollar buying around there, two traders say.

The RBI is suspected to have been buying dollars in recent sessions to shore up its foreign exchange reserves, which now stand at $298.64 billion, their highest since December 2011.

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E-mail ID will not be published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

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

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

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture