Rupee rises above 52, still around 5-1/2 month high

Thu Oct 4, 2012 12:19pm IST

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010. REUTERS/Mukesh Gupta/Files

A shopkeeper counts currency notes inside his shop in Jammu July 14, 2010.

Credit: Reuters/Mukesh Gupta/Files

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Reuters Market Eye - The rupee rises to 51.96/97 from its close of 52.155/165 on Wednesday, after earlier rising to a 5-1/2 month high of 51.86.

Dealers cite inflows from Indian Railway Finance Corp's recent $300 million USD bond sale, while also citing inflows from a large engineering company.

Exporter selling has also kicked in from 52.04 levels, they add.

The rupee may see more gains as government looks set to push to open up the pension sector for foreign investors and raise FDI limits in insurance.

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