Rupee rises for third day; 54.50 strong support
Reuters Market Eye - Rupee extends gains for a third session, pair at 54.75/77 versus 54.8350/8450 close on Wednesday.
Dealers say strong capital inflows continue to support the rupee with inflows into stocks having topped $24 billion so far in 2012, with over $4 billion in December alone.
Month-end oil related dollar demand may offer some support to pair, dealers say.
Pair has immediate support at 54.65, which offered good resistance on way up, followed by stronger support at 54.50.
- Tweet this
- Share this
- Digg this
- Insight - In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
- UPDATE 3-In landmark for EU, Ireland leaves its bailout behind
- UPDATE 2-Canada household debt-to-income ratio hits record high
- UPDATE 1-Would-be millionaires rush into 2nd-largest U.S. Mega Millions drawing
- Insight: In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
The Sensex fell on Friday to mark its biggest weekly fall in nearly a month, as rate-sensitive stocks such as ICICI Bank fell on caution ahead of the RBI's policy review and the U.S. Federal Reserve meet next week. Article
Asia-Pacific M&A volume falls for third consecutive year, deal size grows. Full Article