Rupee at more than three-month high
Reuters Market Eye - The rupee hit a three-and-half month high in early trades on expected NTPC inflows, say dealers. The pair at 52.96/97 versus 52.87 high and a close of 53.14/15 close on Tuesday.
The government expects to raise around $2.25 billion by selling a 9.5 percent stake in state power utility NTPC Ltd in a share auction on February 7.
Dealers estimate $300-$500 million of inflows due to NTPC share sale.
Gains in euro over previous India close also helping INR, dealers say.
(Reporting by Subhadip Sircar)
- Tweet this
- Share this
- Digg this
- Iran hangs woman convicted of killing alleged rapist
- Google's Pichai to oversee major products and services
- UPDATE 1-UK's Labour suffers setback as leader in Scotland quits
- India picks Israel's Spike anti-tank missile over U.S. Javelin - source
- Maker of U.S. highway guardrails stops shipments over safety concerns
Finance Minister Arun Jaitley favours a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the Reserve Bank of India (RBI) has signalled it will not ease policy until it is confident of lower inflation. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article