Reuters Market Eye - The rupee rises further in the afternoon session to trade at 53.66/67 versus its previous close of 54.09/10. The rupee rose to a high of 53.63, its highest since February 11.
Traders say optimism for a fiscally disciplined 2013/14 budget on Thursday prompting dollar selling.
The Sensex also trading up nearly 1 percent.
A broad risk rally in global markets following solid U.S. data and the Fed's continued support to easy monetary policy also hurting the dollar.
Month-end dollar demand from oil firms however capping slides in the pair.
(Reporting by Swati Bhat)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app