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Rupee edges higher, may rise further
December 19, 2012 / 4:36 AM / 5 years ago

Rupee edges higher, may rise further

Reuters Market Eye - The rupee edges higher to 54.78/79 from its previous close of 54.85/86 as higher domestic shares and dollar selling by exporters offset losses due to demand from importers including oil, the largest buyers in the market.

Rupee notes of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Traders say gold importers also prompted to buy dollars as global gold prices stay near four-month lows.

The BSE Sensex is trading up 0.6 percent.

Traders expect the rupee to rise further later in the day as exporters are likely to short the dollar around 54.80-54.90 levels.

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