MUMBAI Jan 30 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)
Trending On Reuters
British telecoms operator Vodafone has picked Bank of America Merrill Lynch (BofA), Kotak Investment Banking and UBS as joint global coordinators of its Indian unit's IPO, people familiar with the matter said, kicking off its long-awaited listing plan. Full Article