Rupee rises in trade

Fri Feb 22, 2013 2:44pm IST

Rupee notes are stapled to form a garland at a market in Srinagar May 20, 2008. REUTERS/Fayaz Kabli/Files

Rupee notes are stapled to form a garland at a market in Srinagar May 20, 2008.

Credit: Reuters/Fayaz Kabli/Files

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

Reuters Market Eye - The rupee gains, largely driven by dollar selling on bunched up inflows after thin volumes seen during a two-day strike that ended on Thursday, say dealers.

The pair is at 54.35/36, 54.5350 intraday high, versus Thursday's close of 54.47/48.

Flows seen from custodial as well as state-run banks.

Some dealers cite inflows related to TPG Capital's $305 million stake sale in commercial vehicle financier Shriram Transport Finance Co Ltd (SRTR.NS).

Dollar continued at near a 5-1/2-month high against a basket of currencies on Friday, with the euro tumbling to a six-week low.

(Reporting by Subhadip Sircar)

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