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MUMBAI |
MUMBAI May 7 (Reuters) - The Indian rupee rose to fresh two and half month highs early on Thursday on expectations foreigners would bring in funds into the local share market, with higher Asian units also supporting sentiment.
* At 9:06 a.m. the partially convertible rupee INR=IN was at 49.32/33 per dollar, off an early high of 49.2750, its strongest since Feb. 17 and higher than Wednesday's close of 49.58/60.
* Asian currencies were trading stronger versus the dollar. For a snapshot see [EMRG/FRX]
* Most Asian stock markets were up at 0336 GMT. The Hang Seng .HSI was 1.08 percent higher, the Kospi .KS11 gained 0.8 percent, while the Nikkei .N225 rose 4 percent.
* Nifty stock futures SINc1 traded in Singapore were up 0.6 percent, pointing to a firm start in the domestic market.
* Dealers said dollar demand from importers could cap gains in the rupee, while they would be closely monitoring performance of the stock market for cues on fund flows. (Reporting by Swati Bhat; Editing by Harish Nambiar)
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