Rupee at one-week high after RBI rate cut; Axis flows

Tue Jan 29, 2013 2:45pm IST

An employee uses checks a currency note at a cash counter inside a bank in Mumbai June 21, 2010. REUTERS/Rupak de Chowdhuri/Files

An employee uses checks a currency note at a cash counter inside a bank in Mumbai June 21, 2010.

Credit: Reuters/Rupak de Chowdhuri/Files

Related Topics

Reuters Market Eye - The rupee trades at 53.64/65 versus its previous close of 53.91/92, after earlier hitting a session high of 53.5475, its highest since January 22.

Traders say sentiment for the rupee turning positive after the central bank cut both the repo rate and the cash reserve ratio by 25 basis points each at its policy review.

Some traders also say rupee boosted by dollar inflows from the Axis Bank share sale to qualified institutional investors.

"The rate cut was most or less certain, so that is not the only reason pushing the rupee up. There seems to be Axis flows in the market as well," a senior dealer with a private bank said. Two other dealers also cited Axis Bank-related inflows.

(Reporting by Swati Bhat)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

GROUP OF 20

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Asian Games 2014

Asian Games 2014

Full coverage of the 17th Asian Games as Incheon.  Full Coverage 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage