INDIA-RUPEE:Rupee gains for 4th straight session oil watched
The rupee strengthened to a three-week high tracking positive global risk sentiments but high global crude oil prices will continue to weigh, traders said. At 9:12 a.m., the rupee was at 55.02/03 to a dollar after rising to 55, a level last seen on July 18.
It had last closed trading at 55.0650/0750. Oil prices at a 12-week peak continue to weigh and have induced dollar bidding from oil companies, dealers said.
Pursuant to this purchase, their total holding rose to 11.2% in the company, crossing a threshold limit of 10% to attract the provisions of Sebi's ...