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)
Trending On Reuters
Jindal Steel and Power is in advanced talks with some resources firms to sell more steel and mining assets, its CEO told Reuters, adding the company hopes to close a $976 million power plant deal well before a mid-2018 deadline. Full Article