Reuters Market Eye - The rupee edges higher to 54.78/79 from its previous close of 54.85/86 as higher domestic shares and dollar selling by exporters offset losses due to demand from importers including oil, the largest buyers in the market.
Traders say gold importers also prompted to buy dollars as global gold prices stay near four-month lows.
The BSE Sensex is trading up 0.6 percent.
Traders expect the rupee to rise further later in the day as exporters are likely to short the dollar around 54.80-54.90 levels.
Trending On Reuters
The Bombay High Court has ruled in favour of Vodafone in one of a series of tax cases involving the British telecoms company in India, a decision seen as positive for several other firms fighting similar disputes. Full Article