Indian rupee strengthens to over 3-month peak on dlr inflows
MUMBAI Jan 30 (Reuters) - The Indian rupee rose to its highest level in more than three months on Wednesday on the back of dollar inflows for upcoming share sales and positive sentiment from a stronger euro.
At 3:30 p.m. (1000 GMT), the partially convertible rupee was at 53.3550/3650 per dollar, its strongest since Oct. 23, 2012 and stronger than its close of 53.76/77 on Tuesday.
Traders said exporters were also seen selling the greenback of expectations of a stronger rupee in the near-term. India's ministerial panel approved selling a 10 percent stake in Oil India on Feb. 1, the oil secretary said. (Reporting by Swati Bhat; Editing by Rafael Nam)
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Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article