Reuters Market Eye - The rupee trades at 53.64/65 versus its previous close of 53.91/92, after earlier hitting a session high of 53.5475, its highest since January 22.
Traders say sentiment for the rupee turning positive after the central bank cut both the repo rate and the cash reserve ratio by 25 basis points each at its policy review.
Some traders also say rupee boosted by dollar inflows from the Axis Bank share sale to qualified institutional investors.
"The rate cut was most or less certain, so that is not the only reason pushing the rupee up. There seems to be Axis flows in the market as well," a senior dealer with a private bank said. Two other dealers also cited Axis Bank-related inflows.
(Reporting by Swati Bhat)
Gold price correction boosts demand; Indian discounts fall to 3-month low
MUMBAI/BENGALURU Gold discounts in India fell to nearly three-month lows this week while fresh buying gathered some steam elsewhere in Asia as price corrections and festive buying lifted demand for the yellow metal.
Infosys says seeing client-specific softness after Brexit
NEW DELHI IT services provider Infosys Ltd is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday.
French naval contractor DCNS files complaint following data leak
PARIS French naval contractor DCNS has filed a complaint for breach of trust after a massive leak of documents concerning six Scorpene submarines it is building for India, a spokesman for the shipbuilder said on Friday.