February 22, 2013 / 4:12 AM / 5 years ago

Rupee rises in trade

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.

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

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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