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E-mail ID will not be published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

  • Neither secular nor socialist, India at 66 is back where it began

    The republic has entered its 66th year but the nation is more than just another year older.

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

Arun Kumar Jain

Building great cities (and nations)

Fifteen to twenty years’ span is the time when humans ...

Kuruvilla Pandikattu SJ

Defining success differently

Researchers spent four decades studying a group of mathematically talented ...

Shona Adhikari

All roads lead to Delhi, as it gears up for art fair

With the seventh edition of India Art Fair (IAF) coming ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture